The simple interest on a certain sum for 3 ½ years at 10% per annum is Rs. 2,940. What will be the compound interest on the same sum for 2 ½ years at the same rate when interest is compounded yearly (nearest to rupee)?

The simple interest on a certain sum for 3 ½ years at 10% per annum i

1.	The simple interest on a certain sum for 3 ½ years at 10% per annum is Rs. 2,940. What will be the compound interest on the same sum for 2 ½ years at the same rate when interest is compounded yearly (nearest to rupee)?
A.	Rs. 2,327
B.	Rs. 2,272
C.	Rs. 2,227
D.	Rs. 2,372
Answer» C. Rs. 2,227