Question
Quantitative Ability and Data Interpretation Question on SI & CI
A certain sum of money earns a simple interest of ₹ 800 over 2-year period. The same sum of money invested at the same rate of interest and same period on a compound interest basis earns an interest of ₹ 900. What is the sum?
A
₹1,200
B
₹1,600
C
₹2,000
D
₹2,400
Answer
₹1,600
Explanation
Solution
The Correct Option is (B) :₹1,600