If the compound interest on a certain sum for two years at 12% per an…

Question

If the compound interest on a certain sum for two years at 12% per annum is Rs. 2544, the simple interest on it at the same rate for 2 years will be = ?

Accepted Answer

Option A. Rs. 2400. Answer & Solution Answer: Option A Solution: & Rate = 12\% & Time = 2 years & Effective rate of CI for 2 years & = 12 + 12 + 12 × 12100 & = 25.44\,\% & Effective rate of SI for 2 years & = 12 × 2 = 24\,\% & According to question, & Required SI & = 254425.44 × 24 = Rs. 2400 & Req…