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A man borrowed Rs. 800 at 10% p.a. simple interest and immediately lent the whole sum at 10% p.a. compound interest. What does he gain at the end of 2 years?
1. Rs. 6
2. Rs. 8
3. Rs. 10
4. Rs. 12

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Correct Answer - Option 2 : Rs. 8

As we know,

Difference between CI and SI for 2 years = Pr2/1002

Difference between CI and SI for 2 years = (800 × 10 × 10) / (100 × 100) = Rs. 8

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