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      Question

      A man invested a certain amount of sum at 5% per

      annum simple interest and earned an interest of Rs. 2500 after 5 years. If the same amount is invested at 15% per annum compound interest, compounded annually for two years then the interest would be:
      A Rs. 3168 Correct Answer Incorrect Answer
      B Rs. 3225 Correct Answer Incorrect Answer
      C Rs. 3368 Correct Answer Incorrect Answer
      D Rs. 3468 Correct Answer Incorrect Answer
      E Rs. 3568 Correct Answer Incorrect Answer

      Solution

      Let the certain sum of money be Rs. P
      So, P × 0.05 × 5 = 2500
      So, P = Rs. 10000
      Desired interest = [(1.15)2 – 1] × 10000 = Rs. 3225

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