Mathematics · Compound Interest
The compound interest on a certain sum of money for 2 years at 8% per annum compounded annually is Rs. 416. What is the simple interest on the same sum at the same rate for the same period?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 375
- 2Rs. 360
- 3Rs. 380
- 4Rs. 400✓
Correct answer
Rs. 400
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