The difference between the simple interest on a certain sum at the rate of 10% per annum for 2 years and the compound interest which is compounded every 6 months is Rs. 124.05. What is the principal sum?
Correct Answer : B
On a sum of money, the simple interest for 2 years is Rs. 660, while the compound interest is Rs. 696.30, the rate of interest being the same in both the cases. The rate of interest is
A person lent out a certain sum on simple interest and the same sum on compound interest at a certain rate of interest per annum. He noticed that the ratio between the difference of compound interest and simple interest of 3 years and that of 2 years is 25:8. The rate of interest per annum is
A sum of money becomes Rs. 13,380 after 3 years and Rs. 20,070 after 6 years on compound interest. The sum is