On a certain sum of money lent out at 16% p.a. the difference between the compound Interest for 1 year, payable half yearly, and the simple interest for 1 year is Rs.56. The sum is

On a certain sum of money lent out at 16% p.a. the difference between the compound Interest for 1 year, payable half yearly, and the simple interest for 1 year is Rs.56. The sum is
1). Rs.1080
2). Rs.7805
3). Rs.8750
4). Rs.5780

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