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Quantitative Aptitude

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Q. What was t...

Question

Q. What was the sum lent by a money lender, if he earned Rs. 1272 in 2 years at 12% rate under compound interest scheme.

A

4000

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B

4800

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C

5000

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D

6000

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Solution

The correct option is C 5000
CI for 2 years at 12% rate = P (1.12) $^{2}$ - 5000
1272 = $P \times 1.2544 - 5000$
P = $\frac{6272}{1.2544}$
P = 5000

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