Question
A sum of Rs. X is invested at 20% per annum compound interest (compounded annually) for 2 years. Another sum of Rs. (X + 2000) is invested at 15% per annum simple interest for 3 years. If the simple interest earned is Rs. 1,100 more than the compound interest earned, find the value of
A sum of Rs. X is invested at 20% per annum compound interest (compounded annually) for 2 years. Another sum of Rs. (X + 2000) is invested at 15% per annum simple interest for 3 years. If the simple interest earned is Rs. 1,100 more than the compound interest earned, find the value of
X.
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