When invested at 10% annual simple interest, a sum becomes ₹ 3360 after 2 years. What will be the simple interest (in ₹) on the same sum for 2 years at the same rate of interest?
When invested at 10% annual simple interest, a sum becomes ₹ 3360 after 2 years. What will be the simple interest (in ₹) on the same sum for 2 years at the same rate of interest?
10% वार्षिक साधारण ब्याज पर निवेश करने पर, एक राशि 2 वर्ष बाद ₹3360 हो जाती है। समान राशि पर समान ब्याज दर से 2 वर्ष का साधारण ब्याज (₹ में) कितना होगा?
Detailed Solution & Logic
Correct Answer:
560
Amount after 2 years = ₹3360
Rate = 10% per annum
Time = 2 years
Let principal = $P$
Simple interest formula:
Amount = Principal + SI
$3360 = P + \frac{P \times 10 \times 2}{100}$
$3360 = P + 0.2P$
$3360 = 1.2P$
$P = \frac{3360}{1.2}$
$P = 2800$
Now, simple interest for 2 years:
$SI=\frac{2800 \times 10 \times 2}{100}$
$=560$
$\therefore$ Correct Answer: ₹560 ✅
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