Compound interest for a certain sum at 3 for 2 years is rs 203 what would be the simple interest

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Home » Aptitude » Compound Interest » Question

1. If the compound interest on a certain sum for 2 years at 3% per annum is ₹ 101.50, then the simple interest on the same sum at the same rate and for the same time will be

1. 1. ₹ 90.00
   2. ₹ 95.50
   3. ₹ 100.00
   4. ₹ 98.25

Let the sum be P. Given Here , Compound Interest ( CI ) = ₹ 101.50 , Rate ( R ) = 3% , Time = 2 years Using the given formula ,

C.I. = P			1 +	r		n	− 1
100

101.50 = P			1 +	3		2	− 1
100

⇒  101.50 = P			103		2	− 1
100

⇒ 101.50 = P		10609 - 10000
10000

⇒  P = ₹	101.50 × 10000
609

⇒ S.I. =	1015000 × 2 × 3	= ₹ 100
609 × 100

We can find required answer with the help of given formula :Here, C.I. = Rs 101.50 , R = 3% , S.I. = ?

C.I. = S.I.		1 +	R
200

101.50 = S.I.		1 +	3
200

S.I. =	101.50 × 200	= ₹ 100
203