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krati

· started a discussion

· 1 Months ago

Simple interest or compound interest ? (Question: 101227.0 )

The question doesn't mention simple interest or compound interest.

Question:

Two equal amounts of money are deposited in two banks each at 15% per annum for 3.5 yrs and 5 yrs respectively. If the difference between their interests is Rs. 144, find each sum.

Options:
A) Rs. 640
B) Rs.680 
C) Rs. 720
D) Rs. 740
E) None of these
Solution:

Knowledge Expert

· commented

· 1 Months ago

If none of these two word mentioned viz. simple/compound then we always solve the question in Simple interest.
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