The difference between CI and SI for two years on sum of Rs.4800 at 10% per annum is:
Answer & explanation
Correct answer: option 1
10% = \(\frac{1}{10}\)
⇒ \(\frac{Diff.}{Principal}\) = \(\frac{1^2}{10^2}\) = \(\frac{1}{100}\)
⇒ 100R = 4800
⇒ 1R = 48
⇒ Difference = 1R = 1 × 48 = 48