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The difference between compound interest and simple interest on a certain sum at 10% per annum for 2 years is ₹50. Find the sum. (answer in ₹)

Competition practiceSimple & Compound Interest

A5000
B6000
C4500
D5500

Step-by-Step Solution

For 2 years, difference =

P \times (R \div 100)^{2} = P \times (0.1)^{2} = 0.01 P = 50

, so

P = 5000

.

Answer: A) 5000

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