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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 :

the sum is :

  1. ₹ 12000

  2. ₹ 26400

  3. ₹ 13200

  4. ₹ 24000

Compound Interest

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Answer

Let sum of money be ₹ x.

Given,

S.I. = ₹ 2400

Time = 2 years

Rate = 10%

By formula,

⇒S.I.=P×R×T100⇒2400=x×10×2100⇒x=2400×10010×2⇒x=₹12000.\Rightarrow S.I. = \dfrac{P \times R \times T}{100} \\[1em] \Rightarrow 2400 = \dfrac{x \times 10 \times 2}{100} \\[1em] \Rightarrow x = \dfrac{2400 \times 100}{10 \times 2} \\[1em] \Rightarrow x = ₹ 12000.

P = ₹ x = ₹ 12000.

Hence, Option 1 is the correct option.

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