Multiple Choice Questions on A sum of money is lent for 2 years at 20 p a compound interest It yields Rs 482 more when compounded........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A sum of money is lent for 2 years at 20 p a compound interest It yields Rs 482 more when compounded...........

Quant (SSC) Compound Interest
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    A sum of money is lent for 2 years at 20% p.a. compound interest. It yields Rs 482 more when compounded semi-annually than compounded annually. What is the sum lent?

    Rs 25,600

    Incorrect Answer

    Rs 20,000

    Correct Answer

    Rs 26,040

    Incorrect Answer

    Rs 40,500

    Incorrect Answer
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    Explanation:

    P[1 + (r/2)/100]4 – P[1 + r/100]2 = 482
    P[1 + 10/100]4 – P[1 + 20/100]2 = 482
    Solve, P = 20,000

    By: Amit Kumar
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