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The compound interest on a certain sum of money at 5% per annum for 2 years is Rs. 246.The simple interest on the same sum for 3 years at 6% per annum is
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Explanation:
Effective Rate of CI for 2 years
=5+5+ 5×5\100=10.25
Effective Rate of SI for 3 years
=6×3=18
According to the question,
Required SI =246\10.25×18=Rs.432