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The difference between simple and compound interest on a certain sum of money for 2 years at 4 percent per annum is ₹ 1. The sum of money is :
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- ₹ 600
- ₹ 625
- ₹ 560
- ₹ 650
Correct Option: B
Given in question , Difference = C.I. - S.I. = ₹ 1 , , Time = 2 years , Rate = 4%
Sum = Difference × | ![]() | ![]() | 2 | |
r |
Sum = 1 × | ![]() | ![]() | 2 | = ₹ 625 | |
r |