If the compound interest on a certain sum for 2 years at 3% per annum is Rs.101.50, then the simple interest on the same sum at the same rate and for the same time will be
1). Rs.90.00
2). Rs.95.50
3). Rs.100.00
4). Rs.98.25
Here is the right answer
Here, C.I. = Rs 101.50
R = 3%, S.I. = ?
C.I. = S.I { $1+\frac{R}{200}$}
S.I. = $\frac{101.50\times 2OO}{203}$
S.I. = 100
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