the compound interest on a sum of money for 2 years is 131.2 0ns AIIMS interest on the same sum for the same period and at the same rate is rupees 1280 find the sum and the rate of interest per annum
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Answer:
B
Given that , compound interest ( C.I. ) = ₹ 615 , simple interest ( S.I. ) = ₹ 600 , Time = 2 years
∴ C.I. – S.I. = 615 – 600 = ₹ 15
S.I. for 1 year =
600
= ₹ 300
2
∴ S.I. for 1 year on ₹ 300 = ₹ 15
∴ Rate =
15 × 100
= 5%
300 × 1
As we know that ,
∴
PRT
= 600
100
⇒ P ×
5 × 2
= 600
100
⇒ P = 600 × 10 = ₹ 6000
Explanation:
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