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    Question

    A certain sum when invested at compound interest of 6% p.a.

    amounts to Rs. 5618.40 in 2 years. Find the amount received when the same sum is invested at 18% p.a. simple interest for 3 years.
    A Rs 7300 Correct Answer Incorrect Answer
    B Rs 7500 Correct Answer Incorrect Answer
    C Rs 7700 Correct Answer Incorrect Answer
    D Rs 7900 Correct Answer Incorrect Answer
    E Rs 8100 Correct Answer Incorrect Answer

    Solution

    Let the sum invested at compound interest be Rs. x
    According to the question,
    x(1 + 6/100) 2 = 5618.4
    or, x = 5618.4/1.1236 = Rs. 5000
    Required amount received = {(5000 × 18 × 3)/100} + 5000 = Rs. 7700

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