Compound interest on a sum of money for 2 years at 4% per annum is Rs. 2448. simple interest on the same sum of money at the same rate of interest for 2 years will be = ?

Answer: Option B

Time (t) = 2 years
Rate % = 4%
Effective rate of CI of 2 years
$$\begin{array}{rl}& \text{ = 4 + 4 + }\frac{4\times 4}{100}\\ & =8.16\%\end{array}$$
Effective Rate of SI for 2 years = 8%
According to the question
\begin{aligned} & {\text{8}}{\text{.16% of sum}} \\ & {\text{ = Rs. 2448}} \\ & {\text{1% of sum}} \\ & {\text{ = Rs. }}\frac{{2448}}{{8.16}} \\ & {\text{8% of sum}} \\ & {\text{ = }}\frac{{2448}}{{8.16}} \times {\text{8}} \\ & {\text{ = Rs. 2400 }} \\\end{aligned}