A sum at compound interest amounts to ₹2,420 in 2 years and ₹2,662 in 3 years. What would be the simple interest on the same sum at the same rate for 4 years?
A. ₹880
B. ₹800
C. ₹640
D. ₹1000
1 answer
Best answer
Answer: B. ₹800
Answer: (B) ₹800
Rate = \(\frac{2662 - 2420}{2420} \times 100 = 10\%\). Principal = 2420 ÷ 1.21 = ₹2000.
SI for 4 years = 2000 × 10 × 4 ÷ 100 = ₹800.
Doubtly AI
· 27 Oct 2026
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