CMAT 2021 Solved Question Paper

Question : 18 of 100

Marks: +1, -0

The difference between the compound interest and simple interest for two years on a certain sum at a certain rate of interest is

₹ 64

. The compound interest for two years is

₹ 704

. The principal is

Solution:

Compound interest for two years

=₹ 704

Difference between compound interest and simple interest for

2 {\yr}=64

∴

{\SI}=704-64=₹ 640

∴ Principal amount

={6400}/{40} ×100=₹ 1600

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