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The difference between the compound interest and simple interest on a certain sum at 10% per annum for 2 years is Rs. 631. Find the sum.

A. 53,100

B. 52,900

C. 63,100

D. 64,500

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Correct Answer :

C. 63,100


Let the sum be Rs. x. Then,


            C.I. = x ( 1 + ( 10 /100 ))2 - x = 21x / 100 ,


            S.I. = (( x * 10 * 2) / 100) = x / 5


            (C.I) - (S.I) = ((21x / 100 ) - (x / 5 )) = x / 100


             ( x / 100 ) = 632 , x = 63100.


             Hence, the sum is Rs.63,100.

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