Q:
Compound interest on a certain sum of money at 20% per annum for 2 years is Rs.5995. What is the SI on the same money at 8% per annum for 6 years ?
Answer & Explanation
Answer: B) Rs. 6540
Explanation: Given C.I = 5984, R = 20% , T = 2yrs
5984 =
=> P = (5995x25)/11
P = Rs. 13625
Now S.I = PTR/100
SI = (13625 x 8 x 6)/100 = Rs. 6540
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