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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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