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Over 3 years at 10% per annum, compound interest (compounded annually) on a sum exceeds simple interest by ₹155. What is the sum (in ₹)?

Competition practiceSimple & Compound Interest
  • A5000
  • B15500
  • C7500
  • D4500

Step-by-Step Solution

CI on ; SI = . Difference = , so = ₹5000.
Answer: A) 5000

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