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      Question

      A man invested a certain amount of sum at 13% per

      annum simple interest and earned an interest of Rs. 2600 after 2 years. If the same amount is invested at 21% per annum compound interest, compounded annually for two years then the interest would be:
      A Rs. 4625 Correct Answer Incorrect Answer
      B Rs. 5225 Correct Answer Incorrect Answer
      C Rs. 4641 Correct Answer Incorrect Answer
      D Rs. 4468 Correct Answer Incorrect Answer
      E Rs. 4568 Correct Answer Incorrect Answer

      Solution

      Let the certain sum of money be Rs. P
      So, P × 0.13 × 2 = 2600
      So, P = Rs. 10000
      Desired interest = [(1.21)2 – 1] × 10000 = Rs. 4641

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