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The compound interest on a certain sum o...

The compound interest on a certain sum of money for 2 years at 5% per annum is Rs. 410 . The simple interest on the same sum at the same rate and for the same time is

A

Rs. 400

B

Rs. 300

C

Rs. 350

D

Rs. 405

Text Solution

Verified by Experts

The correct Answer is:
A
`410= P(1+ 5/(100))^2 - P`
`implies 410 = (441P)/(400) - P`
`implies P = 4000`
`therefore ` साधारण ब्याज = `(4000xx5xx2)/(100) = Rs. 400`
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