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  1. A sum becomes ₹ 2,916 in 2 years at 8% per annum compound interest. The simple interest at 9% per annum for 3 years on the same amount will be
    1. ₹ 600
    2. ₹ 675
    3. ₹ 650
    4. ₹ 625
Correct Option: B

Let principal be P.
Here , Amount ( A ) = ₹ 2,916 , Rate = 8% , Time = 2 years
Using the given formula ,

A = P1 +
R
T
100

⇒  2916 = P1 +
8
2
100

⇒  2916 = P
27
2
25

⇒  P =
2916 × 25 × 25
= ₹ 2500
27 × 27

Now, Time = 3 years , Rate = 9%
∴  S.I.=
P × R × T
100

S.I. =
2500 × 9 × 3
= ₹ 675
100



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