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Discussion :: Simple Interest

  1. A certain sum is invested at simple interest at 18% p.a. for two years instead of investing at 12% p.a. for the same time period. Therefore the interest received is more by Rs. 840. Find the sum?
    2. A.
    Rs. 7000
    B.
    Rs. 8500
    C.
    Rs. 8000
    D.
    Rs. 7500
    E.
    None of these

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    Answer : Option A

    Explanation :

    Let the sum be Rs. x.

    (x * 18 * 2)/100 - (x * 12 * 2)/100 = 840 => 36x/100 - 24x/100 =840

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