Steve borrowed certain sum from Peter for 2 years at simple interest. Steve lend this sum to Jennifer at the same rate for two years at compound interest. At the end of two years Steve received $ 110 as compound interest but paid $ 100 as simple interest. The sum was:

Steve borrowed certain sum from Peter for 2 years at simple interest.

1.	Steve borrowed certain sum from Peter for 2 years at simple interest. Steve lend this sum to Jennifer at the same rate for two years at compound interest. At the end of two years Steve received $ 110 as compound interest but paid $ 100 as simple interest. The sum was:
A.	$250
B.	$350
C.	$400
D.	$200
E.	None of these
Answer» B. $350

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Steve borrowed certain sum from Peter for 2 years at simple interest. Steve lend this sum to Jennifer at the same rate for two years at compound interest. At the end of two years Steve received $ 110 as compound interest but paid $ 100 as simple interest. The sum was:

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