The simple interest on Rs.13000 at a certain rate of interest in five years is Rs.7200. Find the compound interest on the same amount for two years at the same rate of interest.
Choices.
A) 3052.82 B) 3039.89 C) 3052.85 D) 3039.51 E) 3039.82
R = 100 I / PT   =&gt; R = (100 * 7200)/ (13000 * 5) = 11.07%   CI = P{ [1 + R /100]n - 1}   = 13000 { [ 1 + 11.07 / 100]^2 - 1} = Rs.3039.51   Answer:3039.51
<result>D</result>
The simple interest on Rs.13000 at a certain rate of interest in five years is Rs.7200. Find the compound interest on the same amount for two years at the same rate of interest.