Question

Kiran lent Rs. 40,000 to a friend at a compound interest

Q: Answer-Kiran lent Rs. 40,000 to a friend at a compound interest rate of 'b%' per annum, compounded annually...

ATQ, Determine the compound interest rate b Compute the simple interest The interest earned would have been Rs.5600.

rate of 'b%' per annum, compounded annually. After one year, the friend returned Rs. 44,800. If Kiran had lent the money at simple interest of (b + 2)% per annum instead, how much interest would he have earned?

A Rs.2500

B Rs.5500

C Rs.4100

D Rs.5600

E none of these

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IBPS RRB PO

Kiran lent Rs. 40,000 to a friend at a compound interest

Solution

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