The difference between the simple interest and the compound interest, compounded annually, on a certain sum of money for 2 years at $16\%$ per annum is $ ext{₹}797$. Find the sum (rounded off to the nearest integer).

Question

The difference between the simple interest and the compound interest, compounded annually, on a certain sum of money for 2 years at $16\%$ per annum is $	ext{₹}797$. Find the sum (rounded off to the nearest integer).

Accepted Answer

Answer

$	ext{₹}31,130$

Answer

$	ext{₹}31,133$

Answer

$	ext{₹}31,137$

Answer

$	ext{₹}31,133$

The difference between the simple interest and the compound interest, compounded annually, on a certain sum of money for 2 years at $16\%$ per annum is $\text{₹}797$. Find the sum (rounded off to the nearest integer).