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    Question

    The difference between compound interest and simple

    interest at rate of 22% per annum for 2 years is Rs. 484. Find the simple interest obtained on same amount for a period of 2 years at rate of 10% per annum.
    A Rs. 2000 Correct Answer Incorrect Answer
    B Rs. 3000 Correct Answer Incorrect Answer
    C Rs. 2400 Correct Answer Incorrect Answer
    D Rs. 1500 Correct Answer Incorrect Answer

    Solution

    Let, the amount be Rs. P. P[(1 + 22/100)2 тАУ 1] тАУ P ├Ч 22% ├Ч 2 = 484 P ├Ч 0.4884 тАУ P ├Ч 0.44 = 484 P ├Ч 0.0484 = 484 P = 484 ├╖ 0.0484 = Rs. 10000 Therefore, required interest = 10000 ├Ч 10% ├Ч 2 = Rs. 2000

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