If the compound interest on a sum at the rate of 15% p.a. for 2 years is Rs. 225.75, then find simple interest of same amount for same year and same rate of interest.
Answer & explanation
Correct answer: option 1
C.I. @ 15%pa for 2 years = 32.25%
S.I. @ 15%pa for 2 years = 30%
ATQ,
⇒ P × 32.25% = 225.75
⇒ P × 1% = \(\frac{225.75}{32.25}\) = 7
⇒ P × 30% = 30× 7 = 210