A sum of ₹9500 amounts to ₹11495 in 2 years at a certain rate percent per annum, interest compounded yearly. What is the simple interest (in ₹) on the same sum for the same time and double the rate?

3800

Amount = Principal × ( 1 + \(\frac{rate }{100}\) )^t

11495 = 9500 × ( 1 + \(\frac{rate }{100}\) )²

\(\frac{11495}{9500}\) = ( 1 + \(\frac{rate }{100}\) )²

\(\frac{121}{100}\) = ( 1 + \(\frac{rate }{100}\) )²

1 + \(\frac{rate }{100}\) = \(\frac{11}{10}\)

Rate = 10%

Now ,

new rate = 2 × 10% = 20%

Simple interest = \(\frac{P×R×T}{100}\)

= \(\frac{9500×20×2}{100}\)

= 3800