"Example is better than precept."
- (Proverb)
Aptitude - Compound Interest - Discussion
2.
The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:
[A].
625
[B]. 630 [C]. 640 [D]. 650
Answer: A
Explanation:
Let the sum be Rs. x . Then,
C.I. =
x 1 +
4
2
- x
=
676
x - x
=
51
x .
100
625
625
S.I. =
x x 4 x 2=
2x
.
100
25
51x
-
2x
= 1
625
25
x = 625.
Goutham said:
(Wed, Jul 14, 2010 10:13:27 AM)
Hai I am Goutham.
Xyz said:
(Sun, Jul 18, 2010 10:02:12 PM)
CI = interest- sum............
Gutti said:
(Sun, Aug 1, 2010 11:22:17 AM)
You have any shortcut method to this.
x = 625.