The difference between earned interest on the same
amount invested for 2 years on compound interest and simple interest is Rs. 75. If interest rates are 5% per year, then calculate the amount invested. (In rupees)
A32000Correct AnswerIncorrect Answer
B31500Correct AnswerIncorrect Answer
C30500Correct AnswerIncorrect Answer
D30000Correct AnswerIncorrect Answer
Solution
As we know, The difference between Cl and Sl for 2 years = Pr²/1002 75 = (P x 5 x 5) / (100 x 100) P = 75 x 20 x 20 P = 30000 The total sum is 30000.
