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A person invested a sum of Rs.P for 2 years, which is compounded annually at a rate of r% p a. Another person invested the same sum for same period at same rate at simple interest. The difference in their amounts after 2 years is found to be Rs.4P. Find the rate of interest at which they have invested their sums.
- Option 1)
100%
- Option 2)
150%
- Option 3)
200%
- Option 4)
125%
- Option 5)
None of these
A person invested a sum of Rs.P for 2 years, which is compounded annually at a rate of r% p a. Another person invested the same sum for same period at same rate at simple interest. The difference in their amounts after 2 years is found to be Rs.4P. Find the rate of interest at which they have invested their sums.
- Option 1)
100%
- Option 2)
150%
- Option 3)
200%
- Option 4)
125%
- Option 5)
None of these
Answers (1)
Principal = P
Rate = R%
Difference B/W C.I and S.I = D = PR2/1002
R = 200 %
View full answer
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