The compound interest on a certain sum of money at 5% per

The compound interest on a certain sum of money at 5% per annum for 2 years is ₹ 246. The simple interest on the same sum for 3 years at 6% per annum is

Let principal be P.
Given that , Compound Interest ( CI ) = ₹ 246 , Rate ( R ) = 5% , Time = 2 years
Using the given formula ,

C.I. = P			1 +	R		^T	− 1
				100

246 = P			1 +	5		²	− 1
				100

⇒ 246 = P			21		²	− 1
			20

⇒ 246 = P		441 − 400
		400

⇒ 246 =	41P	⇒ P =	246 × 400
	400		41

∴ P = ₹ 2400
Now , Rate ( R ) = 6% , Time = 3 years

∴ SI =	Principal × Time × Rate
	100

SI =	2400 × 3 × 6	= ₹ 432
	100