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Home Aptitude Compound Interest See What Others Are Saying!
  • Question
  • The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:


  • Options
  • A. 625
  • B. 630
  • C. 640
  • D. 650

  • Correct Answer
  • 625 

    Explanation
    Let the sum be Rs. x. Then,

    C.I. = [ x 1 + 4 2 - x ] = 676 x - x = 51 x.
    100 625 625

    S.I. = x x 4 x 2 = 2x .
    100 25

    51x - 2x = 1
    625 25

    x = 625.

    Tags: Bank Exams, Bank PO

    More questions

    • 1. A watch which gains uniformly is 2 minutes low at noon on Monday and is 4 min. 48 sec fast at 2 p.m. on the following Monday. When was it correct?

    • Options
    • A. 2 p.m. on Tuesday
    • B. 2 p.m. on Wednesday
    • C. 3 p.m. on Thursday
    • D. 1 p.m. on Friday
    • Discuss
    • 2. The ratio between the length and the breadth of a rectangular park is 3 : 2. If a man cycling along the boundary of the park at the speed of 12 km/hr completes one round in 8 minutes, then the area of the park (in sq. m) is:

    • Options
    • A. 15360
    • B. 153600
    • C. 30720
    • D. 307200
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    • 3. The diagonal of a rectangle is √41 cm and its area is 20 sq. cm. The perimeter of the rectangle must be:

    • Options
    • A. 9 cm
    • B. 18 cm
    • C. 20 cm
    • D. 41 cm
    • Discuss
    • 4. If 40% of a number is equal to two-third of another number, what is the ratio of first number to the second number?

    • Options
    • A. 2 : 5
    • B. 3 : 7
    • C. 5 : 3
    • D. 7 : 3
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    • 5. How many times in a day, are the hands of a clock in straight line but opposite in direction?

    • Options
    • A. 20
    • B. 22
    • C. 24
    • D. 48
    • Discuss
    • 6. The last day of a century cannot be

    • Options
    • A. Monday
    • B. Wednesday
    • C. Tuesday
    • D. Friday
    • Discuss
    • 7. In a 200 metres race A beats B by 35 m or 7 seconds. A's time over the course is:

    • Options
    • A. 40 sec
    • B. 47 sec
    • C. 33 sec
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    • Discuss
    • 8. How many times are the hands of a clock at right angle in a day?

    • Options
    • A. 22
    • B. 24
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    • Discuss
    • 9. The banker's discount on a bill due 4 months hence at 15% is Rs. 420. The true discount is:

    • Options
    • A. Rs. 400
    • B. Rs. 360
    • C. Rs. 480
    • D. Rs. 320
    • Discuss
    • 10. On 8th Dec, 2007 Saturday falls. What day of the week was it on 8th Dec, 2006?

    • Options
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    • C. Tuesday
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