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On a certain sum, the compound interest for 2 years at 5% per annum is ₹1025. What is the simple interest on the same sum for the same time and rate (in ₹)?

Competition practiceSimple & Compound Interest
  • A1000
  • B1025
  • C950
  • D1050

Step-by-Step Solution

CI factor = , so . SI = ₹1000.
Answer: A) 1000

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