Mathematics · Interest
On a certain sum of money lent at 16% per annum, the difference between the compound interest for 1 year, payable half-yearly, and the simple interest for 1 year is Rs. 56. Find the sum.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 8,750✓
- 2Rs. 7,850
- 3Rs. 7,805
- 4Rs. 5,780
Correct answer
Rs. 8,750
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