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A sum of money lent at compound interest for 2 years at 20% per annum would fetch Rs.482 more, if the interest was payable half yearly than if it was payable annually . The sum is

Correct Answer: 20000

Explanation:

Let sum=Rs.x


 


C.I. when compounded half yearly =  x 1 + 10 100 4 - x = 4641 10000


 


C.I. when compounded annually = x 20 100 2 - x = 11 25


  4641 10000 x - 11 25 x = 482


 


=> x=20000


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