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The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is

Rs.2
Rs.3
Rs.4
Rs.5

Correct Answer: Rs.3

Explanation:

S.I. = Rs.(1200*10*1)/100=rs.120

C.I. =rs[1200*(1+5/100)2-1200]=rs.123

Difference = Rs.(123-120) =Rs.3

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