Mathematics · Simple and Compound Interest
A software firm deposited a surplus amount at 10% per annum compound interest compounded annually. If the total compound interest earned in 2 years was Rs 5,250, what will be the simple interest earned on the same principal amount in 4 years at the same rate of interest?
- 1Rs 10,500
- 2Rs 12,500
- 3Rs 7,500
- 4Rs 10,000✓
Correct answer
Rs 10,000
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