Find the sum The difference between the compound and S.I. on a certain sum of money for 2 years at 10% per annum is Rs.15of money?
Correct answer: A. 1500
- A. 1500
- B. 1800
- C. 2100
- D. 1950
Explanation
For 2 years at 10% per annum, the compound-interest excess is P x (0.10)² = 0.01P. Hence Rs.15 = 0.01P, giving P = Rs.1500. Students may choose Rs.1800 by using the total two-year interest instead of the difference between compound and simple interest.
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Percentages express a quantity as parts per hundred and support calculations involving increases, decreases, discounts, commissions, taxes, and successive changes. Questions require distinguishing percentage change from percentage points and identifying the original value when a final value and its percentage change are given.
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