1. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Rs. 1. The sum (in Rs.) is:
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By: anil on 05 May 2019 01.48 am
Rate of interest (r) = 4 % and time (t) = 2 years Difference between simple and compound interests (d) = Rs. 1 Then, the sum = $$frac{d imes (100)^t}{(r)^t}$$ = $$frac{1 imes (100)^2}{(4)^2} = frac{10000}{16}$$ = Rs. 625 => Ans - (D)
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