Question 11
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The simple interest on a certain sum of money for 3 years at 8 % per annum is half the compound interest on ₹ 8000 for 2 years at 10 % per annum. Find the sum on which simple interest is calculated:
- A ₹ 3500 Correct
- B ₹ 3800
- C ₹ 4000
- D ₹ 3600
Correct Answer: Option A
CI = 8000 x (1 + 10/100)2 - 8000
= 8000 x (11/10) x (11/10) - 8000
= ₹ 9680 - 8000
= ₹ 1680
∴ Sum = (840 x 100)/(3 x 8) = ₹ 3500
[ ∵ SI is half of CI ]
∴ SI = 1680/2 = ₹ 840
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