Question:
On a certain sum of money lent at 16% per annum, the difference between the compound interest for 1 year, payable half yearly and the simple interest for 1 year is ₹ 56. The sum is:
On a certain sum of money lent at 16% per annum, the difference between the compound interest for 1 year, payable half yearly and the simple interest for 1 year is ₹ 56. The sum is:
Updated On: Apr 27, 2024
- ₹ 5,780
- ₹ 7,805
- ₹ 7,850
- ₹ 8,750
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The Correct Option is D
Solution and Explanation
The correct option is (D):₹ 8,750
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