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Question

The compound interest on a certain sum of the money at 5%per annum for 2 years is Rs. 328. What will be simple interest on the same amount for the same period and at same rate of interest?



A

Rs. 320

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B

Rs. 380

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C

Rs. 420

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D

Rs. 440

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Solution

The correct option is D

Rs. 320


Let the principal be Rs. 100

R = 5% and time = 2 years

S.I= PTR100

= (100×2×5)100

= Rs.10

Compound interest= p(1+R100)np

= 100(1+5100)2100

= (100×2120×2120)100

= 4414100

= Rs.414

Now, if C.I is Rs.414,simple interest=Rs. 10

If C.I is Rs. 328, simple interest = Rs. {(10×4)41}×328

= Rs. 320


Mathematics

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