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 = ?
A. Rs. 2400
B. Rs. 2500
C. Rs. 2480
D. Rs. 2440
Answer: Option A
Solution(By Examveda Team)
$$\eqalign{ & {\text{Rate = 12}}\% \cr & {\text{Time = 2 years}} \cr & {\text{Effective rate of CI for 2 years}} \cr & {\text{ = 12 + 12 + }}\frac{{12 \times 12}}{{100}} \cr & = 25.44\,\% \cr & {\text{Effective rate of SI for 2 years}} \cr & {\text{ = 12}} \times 2{\text{ = 24}}\,\% \cr & {\text{According to question,}} \cr & {\text{Required SI}} \cr & {\text{ = }}\frac{{2544}}{{25.44}} \times {\text{24}} = {\text{ Rs. 2400}} \cr & {\text{Required sum}} \cr & {\text{ = Rs. 2400}} \cr} $$Related Questions on Compound Interest
A. Rs. 120
B. Rs. 121
C. Rs. 122
D. Rs. 123
E. None of these
A. 625
B. 630
C. 640
D. 650
E. None of these
A. Rs. 2160
B. Rs. 3120
C. Rs. 3972
D. Rs. 6240
E. None of these
A. Rs. 2.04
B. Rs. 3.06
C. Rs. 4.80
D. Rs. 8.30
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