The simple interest on a sum of money at 10% per annum for 2 years is ₹8,100. What would be the compound interest (in ₹)on the same sum for the same period at 15% p.a , when the interest is compounded yearly? (nearly to 1)

13,061

Simple interest of 2 years = 10% + 10% = 20%

ATQ,

20% = 8100

1% = 405

Principal = 100% = 100 × 405 = 40500

Now, Compound interest of 2 years = 15 + 15 + \(\frac{15×15}{100}\) = 32.25%

As , 1% = 405

Compound Interest = 32.25% = 32.25 × 405 = 13061.25

= 13061  ( nearest 1)