Question:
A certain sum on compound interest becomes ₹19573 at 15% per annum in 2 years. Find the compound interest on the same sum at 10% per annum in 2 years.
A certain sum on compound interest becomes ₹19573 at 15% per annum in 2 years. Find the compound interest on the same sum at 10% per annum in 2 years.
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\(A = P(1+\frac{r}{100})^n\)
Updated On: Apr 21, 2026
- ₹3078
- ₹3094
- ₹3108
- ₹3206
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Verified By Collegedunia
The Correct Option is C
Solution and Explanation
Step 1: Find principal using first condition.
\(A = P(1 + r)^n\).
\(19573 = P(1.15)^2\).
\(1.15^2 = 1.3225\).
\(P = \frac{19573}{1.3225} = 14800\). Step 2: Find amount at 10% for 2 years.
\(A_2 = 14800 \times (1.10)^2\).
\(1.10^2 = 1.21\).
\(A_2 = 14800 \times 1.21 = 17908\). Step 3: Find compound interest.
CI = \(A_2 - P = 17908 - 14800 = 3108\).
\(A = P(1 + r)^n\).
\(19573 = P(1.15)^2\).
\(1.15^2 = 1.3225\).
\(P = \frac{19573}{1.3225} = 14800\). Step 2: Find amount at 10% for 2 years.
\(A_2 = 14800 \times (1.10)^2\).
\(1.10^2 = 1.21\).
\(A_2 = 14800 \times 1.21 = 17908\). Step 3: Find compound interest.
CI = \(A_2 - P = 17908 - 14800 = 3108\).
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