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    Question

    The simple interest on a certain sum for 4 years at 10%

    per annum is Rs 240 less than the compound interest on the same sum for 2 years at 20% per annum. The sum is?
    A Rs 6000 Correct Answer Incorrect Answer
    B Rs 5500 Correct Answer Incorrect Answer
    C Rs 6500 Correct Answer Incorrect Answer
    D Rs 7200 Correct Answer Incorrect Answer
    E Rs 6500 Correct Answer Incorrect Answer

    Solution

    Simple interest at 10% for 4 years =10*4 = 40%
    Compound interest at 20% for 2 years = 20 + 20 + (20*20)/100 = 40 + 4 = 44%
    Let the sum be Rs 'P'
    44% of P - 40% of P = 240
    4% of P = 240
    P = (240*100)/4 = 60*100 = Rs 6000

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