The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 9% per annum is Rs 405. The sum is ______ .
A5000
B10000
C50000
D100000
Answer:
C. 50000
Read Explanation:
If Diff. between SI & CI for 2 years is Rs. x, then Principal = x (100/r)^2
P = 405 x (100x100)/(9x9)
→ P = 50000.