The difference between CI and SI for 2 years on the same sum at 5% p.a is Rs. 240. Find the sum
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Difference between C. and S.I for 2 years is nothing but the 'interest' on the simple
interest earned on first year! Hence, 5% of S.1 = 240
5/100 * S.I = 240. S.I = 240*100/5 = 4800
S.I for first year = 4800
5% of P = 4800
P = 4800*100/5 = 96000 Rs. Hence, sum = Rs.96,000
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