A sum, when invested at 10% simple interest per annum, amounts to ₹4560 after 2 years. What is the simple interest (in ₹) on the same sum at the same rate of interest in 2 years?

Correct option is A

Given:

Rate of interest = 10% p.a.

Time = 2 years

Amount after 2 years = ₹4560

Formula Used:

A = P + SI

SI =$$\frac{P \times R \times T}{100}$$​

Solution:

A = $$P \left(1 + \frac{R \times T}{100}\right)$$​

4560 $$= P \left(1 + \frac{10 \times 2}{100}\right)$$​

4560 =$$P \left(1 + 0.2\right) = 1.2P$$​

P $$= \frac{4560}{1.2} = 3800$$​

SI = $$\frac{3800 \times 10 \times 2}{100} = 760$$​