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    Question

    The difference between compound and simple interest on a

    sum of money for 2 years at 20% per annum is Rs. 987. The sum is:
    A 24,675 Correct Answer Incorrect Answer
    B 42,100 Correct Answer Incorrect Answer
    C 35,600 Correct Answer Incorrect Answer
    D 13,200 Correct Answer Incorrect Answer

    Solution

    Difference of compound interest and simple interest for 2 years = P(R/100)2┬а= P (20/100)2 тЗТ ┬а987 = P (1/25) тЗТ ┬аP = 987 ├Ч 25 = Rs. 24,675

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