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Q:
A) Rs.6000 | B) Rs.8000 |
C) Rs.12000 | D) none of these |
Answer: B) Rs.8000
Explanation:
Explanation:
Compound Interest on P at 10% for 2 years when interest is compounded half-yearly
=P(1+R2100)2T-P=P(1+120)4-P=P(2120)4-P
Simple Interest on P at 10% for 2 years = PRT100=P×10×2100=P5
Given that difference between compound interest and simple interest = 124.05
P*(2120)4-P-P5=124.05
=>P[(2120)4-1-15]=124.05
P=8000