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    Question

    A certain sum when invested at compound interest of 12%

    p.a. amounts to Rs. 6272 in 2 years. Find the amount received when the same sum is invested at 20% p.a. simple interest for 3 years.
    A Rs 7500 Correct Answer Incorrect Answer
    B Rs 7800 Correct Answer Incorrect Answer
    C Rs 8000 Correct Answer Incorrect Answer
    D Rs 8200 Correct Answer Incorrect Answer

    Solution

    Let the sum invested at compound interest be Rs. x
    According to the question,
    x(1 + 12/100) 2 = 6272
    or, x = 6272/1.2544 = Rs. 5000
    Required amount received = {(5000 × 20 × 3)/100} + 5000 = Rs. 8000

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