Simple interest on a certain sum at 8% per annum for 5 years is ₹2400. What will be the compound interest on the same sum at the same rate for 2 years?

₹998.40

Simple interest on a certain sum at 8% per annum for 5 years is ₹2400

According to the question,

SI = 8% × 5 = 40%

40% of principal = 2400

then 100% = 6000

Now we know the CI for two years at 8% per annum 16.64%

So, 16.64% of 6000 = ₹998.40