Mathematics · Compound and Simple Interest
Amit invested equal sums of money at simple interest and compound interest (compounded annually). The time period for both investments was 2 years and the rate of interest was 10% per annum. If the difference between the simple and compound interest received was ₹97, what was the sum (in ₹) invested in each scheme?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 29,700✓
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- 48,950
Correct answer
9,700
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