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CMAT 2013 Solved Question Paper
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© examsnet.com
Question : 13
Total: 100
The compound interest on a certain sum for 2 yr is ₹ 756 and SI (Simple Interest) is ₹ 720. If the sum is invested such that the SI is ₹ 900 and the number of years is equal to the rate per cent per annum, find the rate per cent.
4
5
6
1
Validate
Solution:
(b) Cl for 2 yr = ₹ 756
SI for 2 yr = ₹ 720
It means compound interest on the interest of the firstyear = (756 - 720) = ₹ 36
This implies that the rate of interest is 10%.
∴
36
360
x 100 = 10%
It means the principal for the first year was ₹ 3600.
∴
p
×
10
×
1
100
= 360
∴ P = 3600
Now,
p
×
k
×
k
100
= SI
⇒
3600
×
k
2
100
= 900
∴ k = 5
© examsnet.com
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