Compound interest on a certain sum of money for 2 years at 5 % per annum is ₹ 410 . simple interes

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6.Interest

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The compound interest on a certain sum of money for $2$ years at $5 \%$ per annum is ₹ $410 .$ The simple interest (In ₹) on the same sum at the same rate and for the same time is

A

$400$

B

$300$

C

$350$

D

$405$

Solution

(a) C.I. for $1^{\text {st }}$ year be $₹ y$

For 2 years $= C.I. =₹ 410$

$y+y+5 \% y=410$

$\frac{41 y}{20}=410$

$y=200$

$\therefore$ S.I. for 2 years $=200+200=₹ 400$

Standard 13

Quantitative Aptitude

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