The difference between the CI and SI on a certain sum at 10% per annum for 2…
2019
The difference between the CI and SI on a certain sum at 10% per annum for 2 years is Rs. 631. Find sum.
- A.
Rs. 63100
- B.
Rs. 6310
- C.
Rs. 63200
- D.
Rs. 60000
Attempted by 6 students.
Show answer & explanation
Correct answer: A
For 2 years, the difference between compound interest and simple interest is P x (r/100)^2. Here 631 = P x (10/100)^2 = P/100, so P = 63100.