The simple interest accrued on an amount of ₹ | vedclass

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(B) Step $1$: Calculate the rate of interest $(r)$ using the simple interest formula: $SI = \frac{P 	imes r 	imes t}{100}$.Given $SI = 10800$,$P = 2

Vedclass · Accepted Answer

$5724$

Vedclass · Answer

(B) Step $1$: Calculate the rate of interest $(r)$ using the simple interest formula: $SI = \frac{P 	imes r 	imes t}{100}$.Given $SI = 10800$,$P = 22500$,and $t = 4$ years.$10800 = \frac{22500 	imes r 	imes 4}{100} \implies 10800 = 900 	imes r \implies r = \frac{10800}{900} = 12 \%$.Step $2$: Calculate the compound interest $(CI)$ for $t = 2$ years using the formula: $CI = P \left(1 + \frac{r}{100}ight)^t - P$.$CI = 22500 \left(1 + \frac{12}{100}ight)^2 - 22500$.$CI = 22500 \left(1.12ight)^2 - 22500$.$CI = 22500 	imes 1.2544 - 22500$.$CI = 28224 - 22500 = 5724$.Thus,the compound interest is ₹ $5724$.

The simple interest accrued on an amount of ₹ $22,500$ at the end of four years is ₹ $10,800$. What would be the compound interest accrued on the same amount (in ₹) at the same rate of interest at the end of two years?

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