Govind invested some money in HDFC at 3% per annum rate of interest. What would be the corresponding simple interest (in Rs. ) if after 2 years, Govind got Rs. 203 as compound interest, considering annual compounding?

Correct option is A

​Given:
​Rate of interest (r) = 3% per annum
​Time (t) = 2 years
​Compound Interest (CI) = ₹203
​Formula Used:
​​$$\text{CI} = P \left(1 + \frac{R}{100} \right)^T - P\\\ \\\text{SI} = \frac{P \times R \times T}{100}$$​​​
​Solution:
​Let the principal amount be P.
​​$$\text{CI} = P \left(1 + \frac{3}{100} \right)^2 - P \\203 = P(1.03)^2 - P \\203 = P(1.0609) - P \\203= P(1.0609 - 1) \\203= P(0.0609) \\P = \frac{203}{0.0609}$$​​​
​Now, we need to calculate the simple interest (SI) for the same principal, rate, and time.
​​$$\text{SI} = \frac{P \times r \times t}{100} \\\ \\\text{SI} = \frac{\frac{203}{ 0.0609} \times 3 \times 2}{100} \\\ \\\text{SI} = \frac{20000}{100} \\\ \\\text{SI} = 200$$​​​
​∴ The simple interest is ₹200.​