Mathematics · Compound Interest
On a certain sum of money lent out 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. 60. The sum is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 9,375✓
- 2Rs. 9,365
- 3Rs. 9,000
- 4Rs. 937.5
Correct answer
Rs. 9,375
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