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On what sum of money will the difference between simple interest and compound interest for 2 years at 5% per annum be equal to Rs. 63?
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- Rs. 24,600
- Rs. 24,800
- Rs. 25,200
- Rs. 25,500
Correct Option: C
Given that , Difference = C.I. - S.I. = ₹ 63 , Time = 2 years , Rate = 5%
Using the given formula ,
| Difference = | |
| 10000 |
| ⇒ 63 = | |
| 10000 |
⇒ P = 400 × 63 = ₹ 25200
