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The difference between the simple and the compound interest on a certain sum of money at 4% per annum in 2 years is 10 rs. What is the sum ? |

A) 5,000 B) 6,000 C) 6,250 D) 7,500 Correct Answer :6,250 Explanation :Let the sum is 100 then So, 0.16 : 10 : : 100 : P |

The effective annual rate of interest corresponding to a nominal rate of 22% per annum payable half-yearly is? |

A) 44% B) 23.21% C) 46.42% D) 22% Correct Answer :23.21% Explanation :Amount = P[1+(R/2)/100] Let the amount is 100 for one year Then, Effective rate = 123.21 -100 = 23.21% |