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      Question

      The difference between the compound interest compounded

      annually and simple interest of a sum at 8% p.a. for 2 years is Rs. 64. Find the sum.
      A Rs 8000 Correct Answer Incorrect Answer
      B Rs 10000 Correct Answer Incorrect Answer
      C Rs 12000 Correct Answer Incorrect Answer
      D Rs 15000 Correct Answer Incorrect Answer

      Solution


      Let the sum = Rs. P
      Using formula, Difference = P(R/100)Β²
      So, 64 = P(8/100)Β²
      Or, P = Rs 10,000

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