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Interest earned in 2 years = 3110 – 2000 = Rs. 1110 So the interest earned in 1 year = 1110/2 = Rs. 555 So, the sum of money invested = 2000 – 555 = Rs. 1445
How long will a sum of money take to double, if it is invested in 9% p.a. simple interest?(approx).
A sum of Rs.8 is lent to be returned in 9 months installments of Rs.1 each, interest simple. The rate of interest is: -
The difference between compound interest and simple interest at the same rate for Rs. 2400 for 2 years is Rs. 216. The rate of interest per annum is: