Question
A certain amount of money earns Rs.540 as Simple Interest in 3 years. If it earns a Compound Interest of Rs.376.20 at the same rate of interest in 2 years, find the amount (in Rupees).
Answer: Option C
Answer: (c)S.I. for 2 years= $2/3$ × 540 = Rs.360C.I. - S.I.= 376.20 - 360 = Rs.16.20Rate of interest= ${16.20}/180$ × 100 = 9% per annumPrincipal = $\text"S.I. × 100"/\text"Time × Rate"$= ${180 × 100}/{1 × 9}$ = Rs.2000
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Answer: (c)S.I. for 2 years= $2/3$ × 540 = Rs.360C.I. - S.I.= 376.20 - 360 = Rs.16.20Rate of interest= ${16.20}/180$ × 100 = 9% per annumPrincipal = $\text"S.I. × 100"/\text"Time × Rate"$= ${180 × 100}/{1 × 9}$ = Rs.2000
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