Compound interest on a sum of money for 2 years at 4 per cent per annum is Rs.2,

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Question

Compound interest on a sum of money for 2 years at 4 per cent per annum is Rs.2,448. Simple interest of the same sum of money at the same rate of interest for 2 years will be

Options:

A . Rs.2,250

B . Rs.2,500

C . Rs.2,360

D . Rs.2,400

Answer: Option D
Answer: (d)C.I.= P$(1 + r/100)^t$ - P2448 = P$[(1 + r/100)^t - 1]$or 2448 = P$[(1 + 4/100)^2 - 1]$2448 = P$[676/625 - 1]$2448 = P$[51/625]$P = ${2448 × 625}/51$ = Rs.30,000S.I. = ${30000 × 4 × 2}/100$ = Rs.2400Using Rule 10,Here, C.I. = Rs.2448, R = 4%, S.I. = ?C.I.= S.I.$(1 + R/200)$2448 = S.I.$(1 + 4/200)$2448 = S.I.$(1 + 1/50)$2448 = S.I.$(51/50)$S.I. = ${2448 × 50}/51$ = Rs.2400

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