Same chapter4 marksDifficulty: Hard
Find the difference between the compound interest and the simple interest on ₹8,000 for 2 years at 5% per annum.
Compound Interest
4 marksDifficulty: Hard
A sum of money amounts to ₹9,261 in 3 years at 5% per annum compound interest. Find the sum.
Original Khojo Papers practice question — not from a past board paper.
Answer
₹8,000
No citable source has been recorded for this record. Treat it as practice material, not as fact.
Explanation
P × (1.05)3 = 9,261, and (1.05)3 = 1.157625, so P = 9,261 ÷ 1.157625 = ₹8,000.
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