Same principal is invested in schemes of compound interest and simple – McqOptions

MCQOPTIONS

1.	Same principal is invested in schemes of compound interest and simple interest. The interest obtained in compound interest and simple interest schemes after 2 years are Rs. 3360 and Rs. 2800 respectively. If the rate of interest is 40%, then what is the principal (in Rs.)?
A.	3500
B.	4500
C.	2500
D.	5500
Answer» B. 4500

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