Mathematics · Interest

The difference between compound interest and simple interest on a certain sum of money for 3 years at 8% per annum is Rs. 616. Find the sum.

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Rs. 22500
2Rs. 62500✓
3Rs. 31250
4Rs. 24000

Correct answer

Rs. 62500

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The difference between compound interest and simple interest on a certain sum of money for 3 years at 8% per annum is Rs. 616. Find the sum.

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The difference between compound interest and simple interest on a certain sum of money for 3 years at 8% per annum is Rs. 616. Find the sum.

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