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Mathematics

On a certain sum, the S.I. for 2 years is ₹ 2400. If the rate of interest is 10% p.a., then :

C.I. for 2nd year is :

  1. ₹ 1320

  2. ₹ 2640

  3. ₹ 1980

  4. ₹ 2400

Compound Interest

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Answer

For 2nd year :

P = 12000 + 1200 = ₹ 13200

By formula,

C.I. = A - P

C.I.=P(1+r100)1−P=13200(1+10100)1−13200=13200×110100−13200=14520−13200=₹1320.C.I. = P\Big(1 + \dfrac{r}{100}\Big)^1 - P \\[1em] = 13200\Big(1 + \dfrac{10}{100}\Big)^1 - 13200 \\[1em] = 13200 \times \dfrac{110}{100} - 13200 \\[1em] = 14520 - 13200 \\[1em] = ₹ 1320.

Hence, Option 1 is the correct option.

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