The difference between compound interest and simple interest for 2 years at the rate of 10% over principal amount of z X is z 10. What is the value of X ?
A) RS.100
B) RS.1,000
C) RS.500
D) RS.5,000
Correct Answer:
B) RS.1,000
Description for Correct answer:
For Rs.100, difference is 1
For difference of 10
Principal amount\( \Large (x) = Rs.(100 \times 10) \)