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Kavita kept a sum in a bank for 2 years at 15% per annum. Interest compounded annually came to ₹270 more than simple interest would have. What was the sum (in ₹)?

Competition practiceSimple & Compound Interest
  • A12000
  • B6000
  • C18000
  • D1800

Step-by-Step Solution

For 2 years, CI − SI = . So , giving = ₹12000.
Answer: A) 12000

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