Q:
The difference between simple and compound interest compounded annually on a certain sum of money for 2 years at 4% per annum is re.1. the sum is
Answer & Explanation
Answer: A) 625
Explanation: sum=Rs.x
C.I=[x(1+4/100)^2-x]=(676/625x-x)=51/625
S.I=(x*4*2)/100=2x/25
x=625
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