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Q.

The simple interest and the compound interest on a sum of money at a certain rate for 2 years is Rs. 1,260 and Rs. 1,323 respectively. Find the principal or sum


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a

6200

b

6300

c

6800

d

7520 

answer is B.

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Detailed Solution

Concept- Simple interest is a quick and simple approach to figure out how much money has accrued interest. The original principal sum is always used as the basis for interest, which is calculated at the same rate every time.
Simple Interest, S.I. = Rs. Question ImageCompound Interest, C.I. = Amount(A) - Principle(P) Question ImageDividing (ii) by (i) ,
Question ImageQuestion ImageNow, Question ImageQuestion ImageQuestion Image Principal or Sum, Question Image Rs. 6,300
Hence, the correct answer is option 2) 6300
 
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