Question
Quantitative Ability and Data Interpretation Question on Compound Interest
The difference between the compound interest and simple interest for two years on a certain sum at a certain rate of interest is Rs. 64. The compound interest for two years is Rs. 704. The principal is
A
800
B
1600
C
2400
D
3200
Answer
1600
Explanation
Solution
The Correct option is (B): 1600