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The difference of 13% per annum and 12% of a sum in 1 year is Rs 110.Then the sum is?

Rs 12000
Rs 13000
Rs 11000
Rs 16000

Correct Answer: Rs 11000

Explanation:

Let the sum be 'y'
then, [(y x13 x 1)/100 ]- [( y x 12 x 1) / 100]=110
since ( y / 100 ) = Rs 110
∴ Y = Rs 11000

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