The difference between S.I and C.I compounded annually on a certain sum of money for 2 years at 4%p.a is r.s 1. find the sum?Choices:- 600 645 525 625
Question
Solution 1
The difference between Simple Interest (S.I) and Compound Interest (C.I) for 2 years is given by the formula:
P*(R/100)^2
Where: P is the principal amount (the sum of money we are trying to find), R is the rate of interest.
Given in the problem, the difference is Rs. 1 and the rate of interest is Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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