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Let the certain amount of money invested be Rs.‘P’.
When interest is compounded yearly,
So, CI = P(1 + 20/100) 2 – P = P[(1 + 20/100) 2 – 1] = P(1.44 – 1) = 0.44 × P
When interest is compounded half yearly,
And, CI = P(1 + 10/100) 4 – P = P[(1.1) 4 – 1] = P(1.4641 – 1) = 0.4641 × P
According to question, 0.4641×P – 0.44×P = 241
0.0241×P = 241
P = 241/0.0241 = 10000
Therefore, the certain amount of money invested is Rs. 10000.
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