The compound interest on a certain sum of money at 10% per annum for two years is ₹315. Calculate the simple interest on the same sum for four years at 12% per annum.
₹720
Using C.I=P[(1+r100)n−1],we get
₹315=P[(1+10100)2−1]⇒ ₹315=P[(1110)×(1110)−1]=P×(21100)
⇒ P=₹315×10021=₹ 1500
Now, P = ₹1500, R = 12% p.a., t = 4 years.
S.I.=PRT100.S.I=Rs.1500×12×4100=₹720