Mathematics · Interest
A certain sum was lent on simple interest at 1427% p.a. for three years and six months. The entire amount received was then lent at 20% p.a. on compound interest (compounded annually) for three years. If the total amount received at the end of six years and six months was Rs. 20,736, find the initial sum lent.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 8,000✓
- 2Rs. 11,500
- 3Rs. 9,000
- 4Rs. 10,000
Correct answer
Rs. 8,000
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