On what sum of money will compound interest, payable half-yearly, for 18 months be the same as simple interest on Rs. 63,050 for 2 years, both at the rate of 10% per annum?
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Answer:
Correct option is
A
46000
As per Ques S.I on 9430 for 10 year @ 5% p.a
=
100
9430×10×5
=4715
Lets money of on C.I is x Rs
Then C.A =X(1+
100
5
)
2
=X(
100
105
)(
100
105
)=
400
441X
C'I =
400
41X
As per Ques S.I =C.I
Then
400
41X
=4715
X=46000
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