(A) Let the principal be $P$. The formula for compound interest is $CI = P(1 + r/100)^n - P$.Given $r = 5 \%$,$n = 2$ years,and $CI = ₹ 410$.$410 = P(

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(A) Let the principal be $P$. The formula for compound interest is $CI = P(1 + r/100)^n - P$.Given $r = 5 \%$,$n = 2$ years,and $CI = ₹ 410$.$410 = P(1 + 5/100)^2 - P$$410 = P(1.05)^2 - P$$410 = P(1.1025 - 1)$$410 = 0.1025P$$P = 410 / 0.1025 = 4000$.Now,calculate simple interest for the same sum,rate,and time:$SI = (P \times r \times t) / 100$$SI = (4000 \times 5 \times 2) / 100$$SI = 4000 \times 0.1 = ₹ 400$.

Competitive Quantitative Aptitude Interest Compound Interest

Medium

The compound interest on a certain sum of money for $2$ years at $5 \%$ per annum is ₹ $410$. The simple interest (in ₹) on the same sum at the same rate and for the same time is:

A
$400$
B
$300$
C
$350$
D
$405$

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The compound interest on a certain sum of money for $2$ years at $5 \%$ per annum is ₹ $410$. The simple interest (in ₹) on the same sum at the same rate and for the same time is:

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