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      Question

      The interest received on investing Rs. 6,000 for 5 years

      at simple interest of 'm%' p.a. is Rs. 6,000. Find the total amount received on investing Rs. 3,000 for 3 years at compound interest of 'm%' p.a., compounded annually.
      A Rs. 4,320 Correct Answer Incorrect Answer
      B Rs. 5,184 Correct Answer Incorrect Answer
      C Rs. 4,800 Correct Answer Incorrect Answer
      D Rs. 5,040 Correct Answer Incorrect Answer
      E Rs. 3,600 Correct Answer Incorrect Answer

      Solution

      According to the question, 6000 ├Ч (5 ├Ч m ├╖ 100) = 6000 Or, 300m = 6000 So, m = 6000 ├╖ 300 =┬а20 So, total amount received on investing Rs. 3000 = 3000 ├Ч {1 + (20/100)}3 = 3000 ├Ч 1.23┬а= 3000 ├Ч 1.728 =┬аRs. 5,184

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