Question

The difference between simple interest and compound interest on Rs. 1250 for 2 years at $4 \%$ p.a. is (a) Rs. 3 (b) Rs. 4 (c) Rs. 2 (d) None of these

   The difference between simple interest and compound interest on Rs. 1250 for 2 years at $4 \%$ p.a. is
(a) Rs. 3
(b) Rs. 4
(c) Rs. 2
(d) None of these

The Pearson Guide to Objective Arithmetic for Competitive Examinations

The Pearson Guide to Objective Arithmetic for Competitive Examinations

Dinesh Khattar 2nd Edition

Chapter 10, Problem 20

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Step 1

1250 at 4% per annum for 2 years. The formula for Simple Interest is: \[ \text{SI} = \frac{P \times R \times T}{100} \] Where: - \( P = 1250 \) (Principal) - \( R = 4 \) (Rate of interest) - \( T = 2 \) (Time in years) Substituting the values: \[ Show more…

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The difference between simple interest and compound interest on Rs. 1250 for 2 years at $4 \%$ p.a. is (a) Rs. 3 (b) Rs. 4 (c) Rs. 2 (d) None of these

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