Simple interest on Rs.3500 for 2 years at 9% interest is equal to the compound interest on a certain sum of money for the same number of years at 10% per annum. Find the sum of money.

A

Rs.3310

B

Rs.3000

C

Rs.3500

D

Rs.6300

Correct Option -** D**

Explaination

S.I = 3500*2*9/100 = Rs.630

C.I = P[(1+(10/100))^2] – P

= P[(1.1)^2 – 1]

= 0.21P

= 630

P = Rs.3000

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