Difference between simple interest and compound interest (In ₹) on ₹ 1250 for 2 years at 4 % p.a

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6.Interest

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The difference between simple interest and compound interest (In ₹) on ₹ $1250$ for $2$ years at $4 \%$ $p.a.$ is

A

$3$

B

$4$

C

$2$

D

None of these

Solution

(c) We have,

$CI – SI =P\left(\frac{R}{100}\right)^{2}=1250\left(\frac{4}{100}\right)^{2}$

[Here, $P=1250$ and $R=4]$

$=\frac{1250}{15 \times 25}=₹ 2$

Standard 13

Quantitative Aptitude

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