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      Question

      Calculate the principal amount 'x' for which the simple

      interest accrued over 5 years at an annual rate of 24% is equivalent to the compound interest earned in 2 years on an amount of Rs. (x тАУ 50), compounded annually at a rate of 50%. What is the value of 'x'?
      A 1000 Correct Answer Incorrect Answer
      B 1500 Correct Answer Incorrect Answer
      C 1200 Correct Answer Incorrect Answer
      D 1600 Correct Answer Incorrect Answer
      E 1250 Correct Answer Incorrect Answer

      Solution

      According to the question, {(x ├Ч 24 ├Ч 5)/100} = (x - 50)(1 + 50/100)2┬атАУ (x - 50) Or, 1.2x = 1.25x - 62.5 Or, x = 62.5/0.05 = 1250 Hence, option e.

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