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Question

Quantitative Aptitude Question on SI & CI

If a sum of money is invested at compound interest instead of simple interest for 2 years at a rate of interest of20%20\%;per annum, Rs.320 more interest is earned. What is the sum of money?

A

Rs.8,000

B

Rs.9,600

C

Rs.10,800

D

Rs.12,000

Answer

Rs.8,000

Explanation

Solution

The correct answer is (A);Rs.8,000