On what sum of money will the difference between simple interest and compound interest for 2 years at 5% per annum be equal to rupees 63?

Compound Interest

Aptitude

1. On what sum of money will the difference between simple interest and compound interest for 2 years at 5% per annum be equal to Rs. 63?

1. 1. Rs. 24,600
   2. Rs. 24,800
   3. Rs. 25,200
   4. Rs. 25,500

Correct Option: C

Given that , Difference = C.I. - S.I. = ₹ 63 , Time = 2 years , Rate = 5%
Using the given formula ,

⇒  P = 400 × 63 = ₹ 25200

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Solution

The correct option is A₹ 2700Given R = 10 % Difference in S.I and C.I = ₹ 27 ; Period (n) = 2 years Let the sum of money be P C.I = P × [1+R100]n - P = P × [1+10100]2 - P = P x [1+110]2 - P = P x [1110]2 - P (adsbygoogle = window.adsbygoogle || []).push({}); = P x [121100] - P = 21P100S.I = P×10×2100P×10×2100 = P5Given the difference is 27 Hence 21P100 - P5 = ₹ 27 P100 = ₹ 27 P =₹ 2700

On what sum of money will the difference between simple interest and compound interest for 2 years at 5% per annum?

On what sum of money will the difference between simple interest and compound interest for 2 years at 5% per annum be equal to ₹ 63?

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