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Prerna Suraj Shanker
Asked: 2022-11-07T08:59:08+05:30 In:

In 2 years simple interest on the certain sum of money is Rs. 4944. If the rate of interest is 15 times of time. Find the compound interest on the same amount of money at the same time, at the same rate.


1. Rs. 4658.5
2. Rs. 4585.9
3. Rs. 5685.6
4. Rs. 5674.6

In 2 years simple interest on the certain sum of money is Rs. 4944. If the rate of interest is 15 times of time. Find the compound interest on the same amount of money at the same time, at the same rate.


1. Rs. 4658.5
2. Rs. 4585.9
3. Rs. 5685.6
4. Rs. 5674.6
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1 Answer

  1. Correct Answer – Option 3 : Rs. 5685.6

    Given:

    Simple interest = Rs. 4944

    Time = 2 years

    The rate percent is 15 times of the time

    Rate% = 30

    Concept used:

    C.I. = P{(1 + R/100)T – 1}

    S.I. = (P × R × T)/100

    S.I. → Simple interest

    P → Principal

    T → Time

    R → Rate%

    C.I. → Compound interest

    Calculations:

    The rate percent is 15 times of the time

    Rate% = 2 × 15 = 30%

    S.I. = (P × R × T)/100

    ⇒ 4944 = (P × 30 × 2)/100

    ⇒ P = Rs. 8240

    C.I. = P{(1 + R/100)T – 1}

    ⇒ 8240{(1 + 30/100)2 – 1}

    ⇒ 8240{(13/10) × (13/10) – 1}

    ⇒ 8240 × 69/100

    ⇒ Rs. 5685.6

    ∴ The compound interest at the same rate of interest at same sum is Rs. 5685.6

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