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Question
The difference between compound interest and simple interest on a sum for 2 years at 8 per cent is ₹ 768. The sum is
Options
₹ 100000
₹ 110000
₹ 120000
₹ 170000
MCQ
Solution
₹ 120000
Explanation:
Let the sum be ₹ x.
Then, C.I. = `₹[x(1 + 8/100)^2 - x]`
₹ `(729/625 x - x)` = ₹ `((104x)/625)`
S.I. = ₹ `((x xx 8 xx 2)/100)` = ₹ `((4x)/25)`
∴ `(104x)/625 - (4x)/25` = 768
⇒ `(4x)/625` = 768
⇒ x = `((768 xx 625)/4)` = 120000
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Simple and Compound Interest (Entrance Exam)
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