Mathematics · Compound Interest
The difference between the compound interest (compounded annually) and simple interest obtained on a certain sum of money invested at the same rate for 2 years is Rs. 32. If the interest rate is 4% per annum, calculate the amount invested.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 30,000
- 2Rs. 16,000
- 3Rs. 20,000✓
- 4Rs. 25,000
Correct answer
Rs. 20,000
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