Mathematics · Compound Interest
The compound interest on a certain sum at 5% per annum (compounded annually) for 2 years is ₹6,560. The simple interest on the same sum at the same rate of interest for the same time will be:
- 1₹6,200
- 2₹6,280
- 3₹6,400✓
- 4₹6,480
Correct answer
₹6,400
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