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The compound interest on a certain sum for 2 years at 20% per annum, compounded annually, is ₹1320. Find the sum (in ₹).

Competition practiceSimple & Compound Interest
  • A3200
  • B3300
  • C3000
  • D2750

Step-by-Step Solution

For 2 years the CI factor is . So , giving .
Answer: C) 3000

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