Question

When a sum is lent at 15% per annum then the difference between C.I. and S.I of 2 years is Rs. 27. Find the interest if the same sum is compounded at 20% half yearly for 1 year.

1. Rs.272
2. Rs. 250
3. Rs. 252
4. Rs. 324

Answer 1

Correct Answer - Option 3 : Rs. 252

Given:

The difference between C.I. and S.I of 2 years is Rs. 27

Formula used:

Difference between C.I. and S.I of 2 years = P (r/100)²

Calculation:

Using formula get,       

27 = P (15/100)²    

⇒ P = Rs. 1200

Now, Rs. 1200 compounded at 20% half yearly for 1 year

⇒ P = 1200, R% = 20/2 = 10%, t = 2 

A = P × (1+ r/100)^t

A = 1200 × (1+ 10/100)² = 1200 × (11/10)² = Rs. 1452

C.I. = A – P = 1452 – 1200 = Rs. 252

∴ Required interest is Rs. 252.