The difference between simple interest and compound interest of a certain sum of money at 20% per annum for 2 years is Rs. 56. Then the sum is :
A) Rs. 3680
B) Rs. 2650
C) Rs. 1400
D) Rs. 1170
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let the sum be rupees p
s.I =p×r×t/100
p× 20/ 100× 2 = 2/5 p
c.i =p×(1+ 20/ 100 ) ^ 2 - 1
= 11/25 p
difference is rupees 56
so, 11/25p- 2/5 p = 56
p×( 11/25- 2/5) =56
1/25p= 56
therefore, p= 56 × 25 = 1400
s.I =p×r×t/100
p× 20/ 100× 2 = 2/5 p
c.i =p×(1+ 20/ 100 ) ^ 2 - 1
= 11/25 p
difference is rupees 56
so, 11/25p- 2/5 p = 56
p×( 11/25- 2/5) =56
1/25p= 56
therefore, p= 56 × 25 = 1400
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