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RBI Assistant Prelims 2015 Sitting 1 Paper

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Question : 45

Total: 100

Shyama invested Rs. P for 2 years in scheme A which offered 11% per annum simple interest. She also invested Rs (600 + P) in scheme B which offered 20% compound interest (compounded annually), for 2 years. If the amount received from scheme A was less than that received from scheme B, by Rs. 1216, what is the value of P ?

Rs. 1,500
Rs. 1,400
Rs. 2,000
Rs. 1,600
Rs. 1,800

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