Question

Some money was invested at simple interest for 2 years at 16% per annum interest rate. If the same money was invested at same rate of interest for same number of years at compound interest, it may give Rs. 224 more, so find the money invested.

A. Rs. 8755
B. Rs 8745
C. Rs. 8760
D. Rs. 8750

Answer 1

Answer:

option c

Step-by-step explanation:

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Answer 2

Answer:

Given:

Time = 2 years

Rate of interest = 5%

S.I. = Rs. 200

Formula used:

S.I. = P × R% × T

Calculation:

Let the Principal be P.

S.I. = P × R% × T

⇒ 200 = P × 5/100 × 2

⇒ P = Rs. 2000

∴ The amount is Rs. 2000.