The simple interest on a sum of money at 10% per annum for 2 years is Rs. 8,100. What would be the compound interest (in Rs.) on the same sum for the same period at 15% p.a, when the interest is compound yearly?

Answer: Option A

Solution

Answer: Option A

Solution:

R = 10%, T = 2 year, SI = Rs. 8100
$$8100=\frac{\text{P}\times 10\times 2}{100}$$
40500 = P
Now same principal
R% = 15%
T = 2 year
CI = ?
$$15\%=\frac{3}{20}$$

$$\text{CI}=\frac{129\times 405}{4}=13061.25$$