Correct Answer - Option 3 : Rs. 1050
Given:
N = 4.5 yrs
R = 10%
I = Rs. 2250
Formula used:
I = P × R × N/ 100
A = P × (1 + (R/ 100))N
A = P + I
Where, P = Principal amount, R = Rate of interest, N = number of years and I = Simple interest
Calculation:
2250 = P × 10 × 4.5/ 100
⇒ P = 2250 × 100/ 45
⇒ P = Rs. 5000
Now, finding compound interest
A = 5000 × (1 + (10/ 100))2
⇒ A = 5000 × 11 × 11/ 100
⇒ A = Rs. 6050
⇒ I = 6050 – 5000
∴ Compound interest = Rs. 1050