Mathematics · Interest

The difference between the compound interest (compounded annually) and simple interest on a certain sum of money at 5% per annum for 2 years is ₹15. Find the principal amount.

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1₹8,000
2₹6,000✓
3₹4,000
4₹2,000

Correct answer

₹6,000

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The difference between the compound interest (compounded annually) and simple interest on a certain sum of money at 5% per annum for 2 years is ₹15. Find the principal amount.

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The difference between the compound interest (compounded annually) and simple interest on a certain sum of money at 5% per annum for 2 years is ₹15. Find the principal amount.

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