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Question

Tick the correct answer in each of the following: 

If the compound interest on a sum for 2 years at 1212% per annum is Rs 510, the simple interest on the same sum at the same rate for the same period of time is 

(a) Rs 400        (b) Rs 450        (c) Rs 460        (d) Rs 480


Solution

C.I. on a sum = Rs. 510Rate (R) = 1212%=252% p.a.Rate (R) = 2 yearsC.I. = A - P = P (1+R100)nPC.I.=P[(1+R100)n1] 510= P[(1+252×100)21] 510= P[98×981]510=P[81641]510=P(1764)=P=510×6417P = Rs. 1920 S.I.=PRT100=1920×25×2100×2=Rs. 480                                                             (d)

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