Q:
A sum of money lent at compound interest for 2 years at 20% per annum would fetch Rs.482 more, if the interest was payable half yearly than if it was payable annually . The sum is
Answer & Explanation
Answer: B) 20000
Explanation: Let sum=Rs.x
C.I. when compounded half yearly = [x(1+10100)4-x]=464110000
C.I. when compounded annually =[x(20100)2-x]=1125
464110000x-1125x=482
=> x=20000
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