In 2 years simple interest on the certain sum of money is Rs. 4944. I

1.	In 2 years simple interest on the certain sum of money is Rs. 4944. If the rate of interest is 15 times of time. Find the compound interest on the same amount of money at the same time, at the same rate.1. Rs. 4658.52. Rs. 4585.93. Rs. 5685.64. Rs. 5674.6
Answer» Correct Answer - Option 3 : Rs. 5685.6 Given: Simple interest = Rs. 4944 Time = 2 years The rate percent is 15 times of the time Rate% = 30 Concept used: C.I. = P{(1 + R/100)T – 1} S.I. = (P × R × T)/100 S.I. → Simple interest P → Principal T → Time R → Rate% C.I. → Compound interest Calculations: The rate percent is 15 times of the time Rate% = 2 × 15 = 30% S.I. = (P × R × T)/100 ⇒ 4944 = (P × 30 × 2)/100 ⇒ P = Rs. 8240 C.I. = P{(1 + R/100)T – 1} ⇒ 8240{(1 + 30/100)² – 1} ⇒ 8240{(13/10) × (13/10) – 1} ⇒ 8240 × 69/100 ⇒ Rs. 5685.6 ∴ The compound interest at the same rate of interest at same sum is Rs. 5685.6

In 2 years simple interest on the certain sum of money is Rs. 4944. If the rate of interest is 15 times of time. Find the compound interest on the same amount of money at the same time, at the same rate.1. Rs. 4658.52. Rs. 4585.93. Rs. 5685.64. Rs. 5674.6

Answer» Correct Answer - Option 3 : Rs. 5685.6

Given:

Simple interest = Rs. 4944

Time = 2 years

The rate percent is 15 times of the time

Rate% = 30

Concept used:

C.I. = P{(1 + R/100)T – 1}

S.I. = (P × R × T)/100

S.I. → Simple interest

P → Principal

T → Time

R → Rate%

C.I. → Compound interest

Calculations:

The rate percent is 15 times of the time

Rate% = 2 × 15 = 30%

S.I. = (P × R × T)/100

⇒ 4944 = (P × 30 × 2)/100

⇒ P = Rs. 8240

C.I. = P{(1 + R/100)T – 1}

⇒ 8240{(1 + 30/100)² – 1}

⇒ 8240{(13/10) × (13/10) – 1}

⇒ 8240 × 69/100

⇒ Rs. 5685.6

∴ The compound interest at the same rate of interest at same sum is Rs. 5685.6

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