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Q: The CI and simple interest on certain sum for 2 years are respectively Rs 41 and Rs 40. Find the sum and rate per cent
A. Rs 400, 5% B. Rs 300, 10%
C. Rs 350, 11% D. Rs 400, 2%

Answer and Explanation

Answer:Rs 400, 5%

Explanation:
Let the sum be Rs P,
Rate of interest be r%
∴annual SI = Rs 40/2 = Rs 20
∴20 * 1 * r/100 =1=>r=5%
∴P * 1 * 5/100 = 20 =>P=Rs 400

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