The difference between simple interest and compound interest on a sum of money for 2 years at 5% is Rs.25. The sum is -
Rs.8,000
Rs.9,000
Rs.10,000
Rs.15,000
A
Rs.15,000
B
Rs.9,000
C
Rs.8,000
D
Rs.10,000
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Solution
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Let the sum of money be ′x′= Principal (P)
R=5%
T=2 years
C.I=P(1+R100)T−P
=x(1+5100)2−x
=441x400−x
=41x400
S.I=PTR100
=x×2×5100
=x10
ATP, 41x400−x10=25
41x−40x400=25
⇒x=10,000
Hence the sum is Rs10,000
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