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The difference between simple interest and compound interest of a certain sum of money at 20% per annum for 2 years is Rs.48. then sum is

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The difference between simple interest and compound interest of a certain sum of money at 20% per annum for 2 years is Rs.48. then sum is
1). Rs.1,000
2). Rs.1,200
3). Rs.1,500
4). Rs.2,000

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2 answers

1 vote
Answered by on | Votes 1 |
right answer is Rs.1,200

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2 vote
Answered by on | Votes 2 |

Difference of two years

48=P $\frac{400}{10000}$

48 = $\frac{P}{25}$

P = 48 × 25 = 1200

Accepted Answer