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If the difference between the compoundand simple interest on a sum of moneyat 6.66 % per annum is Rs 184, then thesum of money is |
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Answer» Answer: 2,000 Step-by-step explanation: Simple and compound interest If the DIFFERENCE between the compound and simple interest on a CERTAIN sum of MONEY for 3 years at 5% per annum is Rs. 15.25, then the sum is : A) Rs. 2,000 B) Rs. 1,000 C) Rs. 1,500 D) Rs. 2,500 CORRECT Answer: A) Rs. 2,000 Description for Correct answer: TIME = 3 years, Rate = 5 % Difference between CI and SI = Rs. 15.25 Effective Rate % CI in 3 years =15.7625 % Effective Rate % SI in 3 years = 5×3 = 15 % According to the question, (15.7625−15) % of sum = Rs. 15.25 Sum=15.250.7625×100 =Rs. 2000 |
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