Difference between compound and simple interest on a sum of money for 2 years at 6 frac{1}{4} % per

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6.Interest

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The difference between the compound and simple interest on a sum of money for $2$ years at $6 \frac{1}{4} \%$ per annum is $Rs.$ $10$. The sum (In $Rs.$) is

A

$2000$

B

$2200$

C

$2560$

D

$2600$

Solution

Difference between CI and SI for 2 years $=\frac{ PR ^{2}}{100^{2}}$

Here, Difference $=$ Rs. $10, R=\frac{25}{4} \%$ per annum

$\Rightarrow 10=P \times\left[\frac{25}{4 \times 100}\right]^{2} \Rightarrow P=R s .2560$

Standard 13

Quantitative Aptitude

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