The difference between simple and compound yearly interest compounded on a specific quantity of money for two years at a rate of 4% per annum is Rs. 1.
A. 625
B. 630
C. 640
D. 650
Answer:A
The difference between simple and compound yearly interest compounded on a specific quantity of money for two years at a rate of 4% per annum is Rs. 1.
A. 625 B. 630 C. 640 D. 650
Explanation: Let's say the total is Rs. x. Then,x (1 + 4 /100) = C.I.x =676/625 x - x =51/625 x=x x 4 x 2/100 =2x/25 =51x/625 -2x/25 = 1 = x = 625 S.I. =x x 4 x 2/100 =2x/25 =51x/625