The difference between annual compound and simple interest on a sum over 2 years at 10% per annum is Rs. 65. Find the sum_________?
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Answer: A. Rs 6500
Explanation
The difference between compound and simple interest over two years equals the principal times the square of the rate. Substituting sixty-five for the difference and zero point ten for the ten percentage rate forms an equation. Dividing sixty-five by zero point zero one yields an initial principal sum of sixty-five hundred rupees. The two-year interest difference shortcut formula is difference equals principal times rate squared. Percentage rates must be converted to decimal equivalents before performing algebraic calculations. Isolating the principal variable requires dividing the interest difference by the squared rate factor.
Financial planners calculate principal sums from known interest discrepancies to structure investment products. Loan officers verify borrowed principal amounts using auditing formulas and interest comparison records. Mastering interest formulas enhances quantitative problem-solving speed for competitive examinations. Option B includes extra digits that violate the exact algebraic solution of the interest equation. Option C overestimates the principal sum significantly due to decimal placement errors. Option D suggests an excessively large principal sum that would generate a much higher interest difference.
- Subject
- Mathematics
- Category
- Mathematics
- Topic
- —
- Difficulty
- medium
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