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      Question

      A man invested a certain amount of sum at 12.5%

      per annum simple interest and earned an interest of Rs. 3000 after 3 years. If the same amount is invested at 10% per annum compound interest, compounded annually for two years then the interest would be:
      A Rs. 1168 Correct Answer Incorrect Answer
      B Rs. 1225 Correct Answer Incorrect Answer
      C Rs. 1680 Correct Answer Incorrect Answer
      D Rs. 1468 Correct Answer Incorrect Answer
      E Rs. 1568 Correct Answer Incorrect Answer

      Solution

      Let the certain sum of money be Rs. P
      So, P × 0.125 × 3 = 3000
      So, P = Rs. 8000
      Desired interest = [(1.10)2 – 1] × 8000 = Rs. 1680

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