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The compound interest (compounding annually) on a certain sum at the...

This question belongs to Arithmetic Ability Compound Interest
Compound Interest
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The compound interest (compounding annually) on a certain sum at the rate of 8 percent per annum for two years is Rs. 6656. What would be the simple interest on the same sum at the same rate of interest for two years?

Answer & Solution
Correct Answer: Option B
Rate = 8%
Time = 2 years
Compound interest = 16.64% → 6656
1% → 400
Simple interest = 16% → 16 × 400 = 6400
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