the compound interest on certain sum of money at a certain rate per annum for 2 years is ₹4100 and the simple intrest on the same amount of money at the same rate for 3 years is ₹6000 . then what is the sum of money
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Answer:
4000
Step-by-step explanation:
S.I for 3 years = ₹ 6000
S.I for 2 years = 6000/3 × 2 = ₹ 4000
S.I for one year = ₹ 2000
C.I for 2 years = ₹ 4100
required difference = 4100 - 4000 = 100
required rate = 100/2000 × 100 = 5℅
according to the question = 2000/5 × 100
= 40000
₹ 40000 is the sum of money
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