The difference between the compound interest and simple interest on a certain sum at 5% per annum for 2 years is Rs.1.50. The sum is :
Rs.600
Rs.500
Rs.400
Rs.300
Explanation:
Let the sum be Rs. 100. Then.
S.I = Rs. (100×5×2100)(100×5×2100) = Rs.10
C.I = Rs.[{100×(1+5100)2}−100][{100×(1+5100)2}−100] = Rs. 414414
Difference between C.I and S.I. = Rs. (414−10)(414−10)=Rs.0.25
0.25 : 1.50 : : 100 : x
x = 1.50×1000.251.50×1000.25= Rs.600
Let the sum be Rs. 100. Then.
S.I = Rs. (100×5×2100)(100×5×2100) = Rs.10
C.I = Rs.[{100×(1+5100)2}−100][{100×(1+5100)2}−100] = Rs. 414414
Difference between C.I and S.I. = Rs. (414−10)(414−10)=Rs.0.25
0.25 : 1.50 : : 100 : x
x = 1.50×1000.251.50×1000.25= Rs.600