Multiple choice

The different between the compound interest and simple interest on a certain sum at 6% per annum for 2 years is Rs 232.56 .Find the sum .

  1. Rs 67800

  2. Rs 64600

  3. Rs 74740

  4. Rs 55946
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

For principal P at rate r% for 2 years, the difference between compound and simple interest is P × (r/100)². Here: P × 0.06² = 232.56, so P = 232.56/0.0036 = 64600. Option B is correct.

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