The difference between simple interest and compound interest compounded annually on X sum of money for 2 years at 4% per annum is Rs.1. The value of ‘X’ is
A. Rs. 100
B. Rs. 300
C. Rs. 500
D. Rs. 625
Answer:D
The difference between simple interest and compound interest compounded annually on X sum of money for 2 years at 4% per annum is Rs.1. The value of ‘X’ is
A. Rs. 100 B. Rs. 300 C. Rs. 500 D. Rs. 625