Multiple Choice Questions on The compound interest on a sum of money for two years at 8 p a is Rs 624 What will be the simp........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The compound interest on a sum of money for two years at 8 p a is Rs 624 What will be the simp...........

Quantitative Aptitude ( CCS) Compound Interest
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     The compound interest on a sum of money for two years at 8% p.a. is Rs. 624. What will be the simple interest on the same sum of money for the same period at the same rate of interest?

    700

    Incorrect Answer

    750

    Incorrect Answer

    600

    Correct Answer

    800

    Incorrect Answer
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    Explanation:

    Let P = 100% 

    S.I for 2yrs = 16%
    C.I for 2yrs = 16.64%
    Ratio S.I : C.I
    16 : 16.64
    = > 25 : 26

    26 Parts = 624
    25 Parts = 600 Rs.

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