Question:
If a sum of money is invested at compound interest instead of simple interest for 2 years at a rate of interest of\(20\%\);per annum, Rs.320 more interest is earned. What is the sum of money?
If a sum of money is invested at compound interest instead of simple interest for 2 years at a rate of interest of\(20\%\);per annum, Rs.320 more interest is earned. What is the sum of money?
Updated On: Oct 23, 2024
- Rs.8,000
- Rs.9,600
- Rs.10,800
- Rs.12,000
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The Correct Option is A
Solution and Explanation
The correct answer is (A);Rs.8,000
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