2014 · Q11
The difference between compound interest and simple interest for 2 years at the rate of 10% over principal amount of Rs. X is Rs. 10. What is the value of X?
Elementary MathematicsSimple and Compound Interest
- ARs. 100
- BRs. 1,000
- CRs. 500
- DRs. 5,000
Explanation
CI − SI for 2 years = P·r² = X·(0.10)² = 10, so X = 10/0.01 = Rs. 1,000.