The simple interest on a sum for 2 years at 10% is Rs. 800. The compound interest on the same sum for 2 years at 10% is: MCQ with Answer and Explanation

Explanation:
Difference for 3 years = P * (R/100)^2 * (3 + R/100). Given 93 = P * (10/100)^2 * (3 + 10/100) => 93 = P * (1/100) * (3.1) => 93 = P * 0.031 => P = 93 / 0.031 = Rs. 3000.

Explanation:
27 = 3³, so 7 × 3 = 21 years.

Explanation:
6000(1+r)² = 7260 ⇒ (1+r)² = 1.21 ⇒ r = 10%.