Question : The difference between compound interest and simple interest on Rs. X at 7.5% per annum for 2 years is Rs. 22.50. Find the value of X.
Option 1: Rs. 4000
Option 2: Rs. 5000
Option 3: Rs. 2000
Option 4: Rs. 1900
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Correct Answer: Rs. 4000
Solution : Given: Principal = Rs. X Rate = 7.5% Time = 2 years The difference between compound interest and simple interest, D = Rs.22.50 We know that, $D=P(\frac{r}{100})^2$ ⇒ $22.50=X(\frac{7.5}{100})^2$ ⇒ $22.50=X(\frac{3}{40})^2$ ⇒ $22.50=X\times\frac{3}{40}\times\frac{3}{40}$ ⇒ $X=1600\times2.5$ ⇒ $X=4000$ Hence, the correct answer is Rs. 4000.
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Question : The difference between compound interest and simple interest on Rs. $x$ at 25% per annum for 2 years is Rs. 325. Find the value of $x$.
Option 1: Rs. 5200
Option 2: Rs. 4000
Option 3: Rs. 5300
Option 4: Rs. 2400
Question : The difference between compound interest and simple interest on a sum at 20% per annum for two years is Rs. 420. Find the sum (in Rs.).
Option 1: Rs. 8,000
Option 2: Rs. 10,500
Option 3: Rs. 9,000
Option 4: Rs. 11,000
Question : What is the difference between the compound interest and the simple interest on Rs. 2,000 at 10% interest per annum for 2 years, if, for compound interest, interest is compounded annually?
Option 1: Rs. 20
Option 2: Rs. 40
Option 3: Rs. 80
Option 4: Rs. 60
Question : Find the difference between compound interest and simple interest for 2 years on a sum of Rs. 11000 at a rate of 11% per annum.
Option 1: Rs. 121.10
Option 2: Rs. 155.60
Option 3: Rs. 133.10
Option 4: Rs. 144.40
Question : Find the difference between compound interest (compounding annually) and simple interest on a sum of Rs. 56,000 for two years at 15% per annum.
Option 1: Rs. 1300
Option 2: Rs. 2410
Option 3: Rs. 1100
Option 4: Rs. 1260
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