Mathematics · Compound Interest
The interest on a certain sum at 16% p.a. after one year is Rs. 2,496 when interest is compounded half-yearly. What is the simple interest on the same sum at the same rate in 2 years?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 5,560
- 2Rs. 5,650
- 3Rs. 4,800✓
- 4Rs. 5,500
Correct answer
Rs. 4,800
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