Question
Download Solution PDFThe difference between Compound Interest and Simple Interest for 2 years at 5% per annum is Rs. 2.50. Find the sum:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Difference between Compound Interest (CI) and Simple Interest (SI) for 2 years = Rs. 2.50.
Rate of interest = 5% per annum.
Formula Used:
Difference between CI and SI for 2 years = Principal × (Rate/100)2
Calculation:
Let the principal be P.
Difference between CI and SI = P × (Rate/100)2
⇒ 2.50 = P × (5/100)^2
⇒ 2.50 = P × (25/10000)
⇒ P = (2.50 × 10000) / 25
⇒ P = 1000
The sum is Rs. 1000.
Last updated on Jul 4, 2025
->OPSC ASO Rejection List has been released on the official website of OPSC. Candidates can check if their application form has been accepted or rejected.
->The OPSC ASO Exam Date 2025 is 27th July 2025.
->OPSC has announced 29 Job openings for the post of ASO.
->The last date to apply for the vacancy is 9th June 2025.
->The selection of the candidates for recruitment shall be made on the basis of written test and skill test in computer.
->There is no application fee for all the candidates applying for the position of Assistant Section Officer.