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Sanjana and Ritika has equal amount. Sanjana invested of her amount at the rate of 12% p.a. on simple interest and the remaining amount at the rate of R% p.a. on simple interest while Ritika invested the amount at the rate of 10% p.a. on compound interest. If the interest received by both of them at the end of two years is equal, Find the value of R.
11.25
10 .25
9 .75
8.5
None of these
Let the sum be Rs. x. According to the data provided in the question, we get:
⇒ 75 × 21 = 600 + 100R ⇒ 1575 – 600 = 100R ⇒ 100R = 975 ⇒ R = 9.75
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