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Question : On a certain sum, the difference between compound interest and simple interest at 10% per annum for 2 years is Rs.250. The sum is _________.

Option 1: Rs.25,450

Option 2: Rs.26,550

Option 3: Rs.25,000

Option 4: Rs.26,000


Team Careers360 3rd Jan, 2024
Answer (1)
Team Careers360 13th Jan, 2024

Correct Answer: Rs.25,000


Solution : Difference between C.I and S.I for 2 years is given by
$D=P(\frac{r}{100})^2$
$250=P(\frac{10}{100})^2$
⇒$250=P(\frac{1}{100})$
⇒ $P$ = Rs. 25,000
So, the sum is Rs. 25,000.
Hence, the correct answer is Rs. 25,000.

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