The compound interest on a certain sum of money for 2 years at 10 per annum is Rs 420 The simple int...........

Quantitative Aptitude ( CCS) Compound Interest

The compound interest on a certain sum of money for 2 years at 10% per annum is Rs. 420. The simple interest on the same sum at the same rate and for the same time will be

Rs.350

Rs.375

Rs.380

Rs.400

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Explanation:

Time = 2 year , Rate % = 10%
Effective Rate% of CI for 2 year = 10 + 10 + (10 × 10)/100
Effective Rate% of SI for 2 years = 2 × 10 = 20%
Required SI = 420/21 × 20 = 400 Rs.