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    Question

    Peter invested a certain sum of money in a scheme paying

    10% simple interest per annum, while Rachel invested half of the sum that Peter invested in a scheme paying 10% interest per annum compounded annually. Also, while Peter invested for 2 years, Rachel invested for 3 years. If the difference in the interest earned by Peter and Rachel was ₹897, what was the sum that Rachel had invested?
    A ₹13,000 Correct Answer Incorrect Answer
    B ₹12,900 Correct Answer Incorrect Answer
    C ₹13,100 Correct Answer Incorrect Answer
    D ₹12,960 Correct Answer Incorrect Answer

    Solution

    The correct answer is A

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