Multiple Choice Questions on A Man invested an amount for 2 years at 6 percent per annum at simple interest Had the interest been........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A Man invested an amount for 2 years at 6 percent per annum at simple interest Had the interest been...........

Quantitative Aptitude ( CCS) Compound Interest
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    A Man invested an amount for 2 years at 6 percent per annum at simple interest. Had the interest been compounded anually, he would have earned Rs. 108 more as interest. What was the amount invested?

    Rs28,000
    Incorrect Answer
    Rs33,000
    Incorrect Answer
    Rs24,000
    Incorrect Answer

    Rs30,000

    Correct Answer
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    Explanation:

    For 2 years CI-SI=PR2/1002
    108=(P*6*6)/100*100
    P=Rs30,000.

    Hence, option 4 is the correct answer.

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