The difference between the compound interest and the simple interest on a principal sum of ₹24,000 in 2 years at same rate of interest is ₹260. The rate of interest is:

Correct option is B

​$$260 = 24000 \times \left( \frac{R}{100} \right)^2$$​​

​$$260 = 24000 \times \frac{R^2}{10000}$$​​

​$$​260 = 2.4 \times R^2$$​​

​$$R^2 = \frac{260}{2.4} = 108.33$$​​

​$$R = \sqrt{108.33} \approx 10.4$$​​