The compound interest on a certain sum of money at 21% for 2 years is ₹9,282. Its simple interest (in ₹) at the same rate and for the same period is:
Given, Compound interest (C.I) = ₹9,282
Rate (R%) = 21%, Time (T) = 2 years
Let the Pricipal Amount be P
$$=$$> $$9282=P\left(1+\frac{21}{100}\right)^2-P$$
$$=$$> $$9282=P\left(\frac{121}{100}\right)^2-P$$
$$=$$> $$9282=P\left(\frac{14642}{10000}\right)-P$$
$$=$$> $$9282=\frac{4642}{10000}P$$
$$=$$> $$P=2\times10000$$
$$=$$> $$P=₹20000$$
$$\therefore\ $$Simple Interest$$=\frac{PTR}{100}=\frac{20000\times2\times21}{100}=₹8400$$
Hence, the correct answer is Option B
Create a FREE account and get: