The simple interest in 3 years and compound interest in 2 years on a certain sum of money at the same rate are Rs. 1200 and Rs. 832 respectively. The principal is?

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Rs. 7500

Rs. 4000

Rs. 3000

Rs.5000

answer is D.

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Detailed Solution

Concept- By directly replacing the values for the variables used in the solution from the given issue, we may quickly and efficiently solve the aforementioned problem using the simple interest and compound interest formulas.
C.I. for 2 years = Rs. 832
S.I. for 3 years = Rs. 1200
Every year's simple interest is the same.
So, simple interest for 2 years Question Image

Rs. 800
We know that,
Question Image

Again,

Thus, the principal is Rs. 5000 .
Hence, the correct answer is option 4) Rs.5000

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