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    Question

    The difference between the compound interest compounded

    annually and simple interest of a sum at 18% p.a. for 2 years is Rs. 324. 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)┬▓
    So, 324 = P(18/100)┬▓
    Or, P = Rs 10,000

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