Question

On a certain sum of money, after 2 years the simple interest and compound interest obtained are rs 800 and rs 960 respectively. What is the sum of money invested? A) rs 1420 b) rs 1325 c) rs 1000 d) rs 1405 e) rs 1375

Answer 1

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Step-by-step explanation:

C) Rs 1000

Explanation:  

Diff = 960-800 = 160

r = 2*Diff*100/SI

So r = 2*160*100/800 = 40%

Now 160 = Pr2/1002