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On a certain sum of money, the difference between the compound interest for a year, payable half-yearly, and the simple interest for a year is ₹ 180. If the rate of interest in both the cases is 10%, then the sum is
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- ₹ 60,000
- ₹ 72,000
- ₹ 62,000
- ₹ 54,000
Correct Option: B
If the interest is compounded half yearly,
Time = 2 years , Rate = 5% half yearly
Using the given formula ,
C.I. = P | 1 + | T | − 1 | |||||
100 |
C.I. = P | 1 + | 2 | − 1 | |||||
100 |
C.I. = P | 2 | − 1 | |||||
20 |
C.I. = | |
400 |
S.I. = | |
100 |
S.I. = | = | ||
100 | 10 |
According to question ,
∴ C.I. - S.I. = 180
⇒ | − | = 180 | ||
400 | 10 |
⇒ | = 180 | |
400 |
⇒ | = 180 | |
400 |
⇒ P = ₹ 72000
Second Method to solve this question :
Here, C.I. – S.I. = ₹ 180
Interest is compounded half yearly ,
R = | = 5%, T = 2 years | |
5 |
C.I. − S.I. = P | 2 | |||
100 |
⇒ 180 = P | 2 | |||
100 |
⇒ P = 180 × 20 × 20
P = ₹ 72000