The difference between simple interest and compound interest compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is ___

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Solution

Let the sum be Rs. x. Then,
$C . I [x {(1 + \frac{4}{100})}^{2} - x] = (\frac{676}{625} x - x) = \frac{51}{625} x . S . I = (\frac{x \times 4 \times 2}{100}) = \frac{2 x}{25} . ∴ \frac{51 x}{625} - \frac{2 x}{25} = 1 \Rightarrow x = 625.$

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The difference between simple interest and compound interest compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is ___

Let the sum be Rs. x. Then, C.I[x(1+4100)2−x]=(676625x−x)=51625x.S.I=(x×4×2100)=2x25.∴51x625−2x25=1⇒x=625.

Let the sum be Rs. x. Then,
$C . I [x {(1 + \frac{4}{100})}^{2} - x] = (\frac{676}{625} x - x) = \frac{51}{625} x . S . I = (\frac{x \times 4 \times 2}{100}) = \frac{2 x}{25} . ∴ \frac{51 x}{625} - \frac{2 x}{25} = 1 \Rightarrow x = 625.$