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The difference between simple and compound interest on a certain sum of money at 5% rate of interest for 2 years is Rs. 15. The sum is?
  • a)
    6000 
  • b)
    6500 
  • c)
    5500 
  • d)
    7000
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
The difference between simple and compound interest on a certain sum o...


= 15 x 400 = 6000
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The difference between simple and compound interest on a certain sum of money at 5% rate of interest for 2 years is Rs. 15. The sum is?a)6000b)6500c)5500d)7000Correct answer is option 'A'. Can you explain this answer?
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