The difference between simple and compound interests annually on a particular sum of money for 2 years at 4% per annum is Rs. 1. What is the sum? Select the correct option
A) 600  B) 625  C) 650  D) 675  E) 700
sum consider as x   CI = (x(1+4/100)^2-x) = 676/625x-x   =&gt;51/625x   SI = x*4*2/100 = 2x/25   51x/625 - 2x/25 = 1   x= 625   ANSWER 625
<result>B</result>
The difference between simple and compound interests annually on a particular sum of money for 2 years at 4% per annum is Rs. 1. What is the sum?