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
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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