1.

The compound interest on an amount invested for 2 years at 12% per annum is Rs. 2544. What will be the simple interest on this amount when invested for 7 years at 8% per annum?1. Rs. 60002. Rs. 52003. Rs. 56004. Rs. 6400

Answer» Correct Answer - Option 3 : Rs. 5600

Given:

The compound interest on an amount invested for 2 years at 12% per annum is Rs. 2544.

Formula:

CI = P [1 + (r/100)]n – P, when the rate of interest is r and the amount is invested for n years.

SI = PRT/100

Calculation:

Let the sum be Rs. P.

2544 = P [1 + (12/100)]2 – P

P = 10000

Now, simple interest on Rs. 10,000

SI = (10000 × 7 × 8)/100

⇒ Rs. 5600

The simple interest is Rs. 5600



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