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Simple interest on a certain sum of money for 3 years at 8% per annum is half of the compound interest on ₹ 6000 for 2 years at 10% per annum. Find the sum on which simple interest is calculated ?

Solution

✅ Correct Option: 4

Compound interest =6000(1.1)2−6000=₹1260= 6000(1.1)^2 - 6000 = ₹1260. Half of this is ₹630. So P×3×8/100=630P \times 3 \times 8/100 = 630, i.e. 0.24P=6300.24P = 630, giving P=₹2625P = ₹2625.

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