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The compound interest on a sum of money at 5% per annum for 3 years is ₹ 2522. What would be the simple interest on this sum at the same rate and for the same period ?
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- ₹ 2500
- ₹ 2400
- ₹ 2450
- ₹ 2350
Correct Option: B
Given that , CI = ₹ 2522 , r = 5% , t = 3 years
We can find required answer with the help of given formula ,
| SI = CI × | ||||||||||||
| 100 |  |  | 1 + | |||||||||
 | t | − 1 |  | |||||||||
| 100 | ||||||||||||
| SI = | |||||||||||
| 100 | | | 1 + | ||||||||
| 3 | − 1 | | ||||||||
| 100 | |||||||||||
| SI = | |||||||||||
| 100 | | ||||||||||
| − 1 | | ||||||||||
| 8000 | |||||||||||
| ∴ SI = | × 8000 = ₹ 2400. | |
| 100 × 1261 |
