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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
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- ₹ 600
- ₹ 675
- ₹ 650
- ₹ 625
Correct Option: B
Let principal be P.
Here , Amount ( A ) = ₹ 2,916 , Rate = 8% , Time = 2 years
Using the given formula ,
A = P | ![]() | 1 + | ![]() | T | |
100 |
⇒ 2916 = P | ![]() | 1 + | ![]() | 2 | |
100 |
⇒ 2916 = P | ![]() | ![]() | 2 | |
25 |
⇒ P = | = ₹ 2500 | |
27 × 27 |
Now, Time = 3 years , Rate = 9%
∴ S.I.= | |
100 |
S.I. = | = ₹ 675 | |
100 |