Mathematics · Simple and Compound Interest
Farmer A invests a certain sum of money at simple interest and Farmer B invests the same sum at compound interest (compounded annually) for 2 years at the rate of 10% per annum. If Farmer B receives ₹462 more as interest than Farmer A, find the sum invested by each farmer.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹46,210
- 2₹46,400
- 3₹42,600
- 4₹46,200✓
Correct answer
₹46,200
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