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The simple interest on a certain sum for 2 years at 10% per annum is Rs.90. The corresponding compound interest is?
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- Rs. 99
- Rs. 95.60
- Rs. 94.50
- Rs. 108
Correct Option: C
Principle = (100 x interest) / (time x rate)
⇒ Sum = (100 x 90) / (2 x 10) = Rs. 450
C.I. =Rs.[ 450 x (1 + 10/100)2 - 450] = Rs. 94.50
