Question

    The compound interest on a certain sum, compounded

    half-yearly at an annual rate of 20% for one year, is Rs. 540 less than the simple interest on the same sum for 2 years at an annual rate of 15%. What is the principal amount?
    A 5300 Correct Answer Incorrect Answer
    B 5450 Correct Answer Incorrect Answer
    C 5600 Correct Answer Incorrect Answer
    D 6000 Correct Answer Incorrect Answer

    Solution

    Let the principal be P.

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