[Rs.600] The difference between the compound interest and simple interest on a certain sum at 5% per annum fo

For Competitive Exams

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

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