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      Question

      The difference between the simple and compound interest

      compounded annually of a sum at 12% p.a. for 2 years is Rs. 180. Find the sum.
      A Rs. 15000 Correct Answer Incorrect Answer
      B Rs. 12500 Correct Answer Incorrect Answer
      C Rs. 11000 Correct Answer Incorrect Answer
      D Rs. 8000 Correct Answer Incorrect Answer

      Solution

      Let the sum = Rs. x According to the question, x(1 + 12/100)2┬атАУ x тАУ x ├Ч 12% ├Ч 2 = 180 784x/625 тАУ x тАУ 6x/25 = 180 159x/625 тАУ 6x/25 = 180 9x/625 = 180 x = Rs. 12500

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