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Q: A sum of money is put out at CI for 2 years at 20% interest compounded yearly. It would fetch Rs 48.20 more if the interest were payable half yearly. Find the sum
A. 2000 B. 3000
C. 2500 D. 4000

Answer and Explanation

Answer:2000

Explanation:
Let the sum be Rs x
Amount paid if interest payable yearly = x(1 + 20/100)2 = x(120/100)2
Amount paid if interest payable half yearly = x(1 + 10/100)4 = x(110/100)4
x(110/100)4 - x(120/100)2 = 48.20 =>x = Rs 2000

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