On a certain sum of money lent out at 16% per annum, the difference between the compound interest for 1 year, payable half-yearly, and the simple interest for 1 year is Rs. 60. The sum is?
a) 9393
b) 9375
c) 9870
d) 9555
Sol:
Rate = 16% p.a.
Time = 1 year (half-yearly)
Difference between CI and SI = Rs 60
