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%;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