Mathematics
NULL
Medium
Question
Compound interest on Rs.44000 for two years is Rs.11193.60. What would be the simple interest on the same amount at the same rate for the same period?
A
Rs.10,840
B
Rs.10,720
C
Rs.10,560
✓ Official correct answer
D
Rs.10,280
Community credibility
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A
Rs.10,840
No member explanations yet for this option.
B
Rs.10,720
No member explanations yet for this option.
C
Rs.10,560
No member explanations yet for this option.
D
Rs.10,280
No member explanations yet for this option.
Explanation
From CI, rate is 12%. SI = 44000 × 12 × 2 / 100 = Rs.10,560.