Question

The difference between simple and compound interest on a certain sum of money for 2 years at 4 per cent per annum is Rs. 1. The sum of money is:

• A. Rs. 600
• B. Rs. 610
• C. Rs. 650
• D. Rs. 625

Answer 1

Answer:

D. Rs. 625

(CI−SI) = Pr^2/100^2 1=Px16/100x100 P=625 ​