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Railways Sample Paper RRBs Assistant Loco Pilot and Technician CBT STAGE-I Sample Paper-17

  • question_answer
    The difference between simple and compound interest compounded annually, on a certain sum of money for 2 yr at 4% per annum is Rs. 1. The sum (in Rs.) is

    A)  650                 

    B)  630

    C)  625                 

    D)  640

    Correct Answer: C

    Solution :

    Let the sum be Rs. x \[\therefore \]      \[x\left[ {{\left( 1+\frac{4}{100} \right)}^{2}}-1 \right]-\frac{x\times 4\times 2}{100}=1\] \[\Rightarrow \]   \[x\left[ \frac{16}{10000}+\frac{2\times 4}{100} \right]-\frac{x\times 4\times 2}{100}=1\] \[\Rightarrow \]   \[\frac{16x}{10000}=1\] \[\Rightarrow \]   \[x=\frac{10000}{16}=625\] So, the sum = Rs. 625


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