The difference between simple and compound interest on a sum of money for 2 years at 10% per annum is Rs. 65. Find the sum. MCQ with Answer and Explanation

Explanation:
Effective rate of compound interest for 2 years at 5% = 5 + 5 + (55)/100 = 10.25%. Given 10.25% of P = 410 => P = 410 / 0.1025 = Rs. 4000.

Explanation:
Effective rate = (1.06)² − 1 = 1.1236 − 1 = 12.36%.

Explanation:
Quarterly rate = 8 / 4 = 2%. Time = 4 quarters. Amount = 10000 * (1 + 2/100)^4 = 10000 * (1.02)^4 = 10000 * 1.082432 = Rs. 10824.32. Compound Interest = 10824.32 - 10000 = Rs. 824.32.