the compound intrest on a certain sum of money at 21% for 2 years is rs 11602.5 it is a simple interest in( rs) at the same rate and for the same period?
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Compound interest = ₹11602.5
Rate = 21%
Time = 2 yrs
Let, the principal be p
ATP
P(R+1/100)^n = 11602.5
= P(21+1/100)² = 11602.5
= P(2200/100) = 11602.5
= P = 11602.5×100/2200
= P = 527.386364
Simple interest = ₹527.386364
Rate = 21%
Time = 2yrs
Principal = SI×100/R×T
= 527.386364×100/21×2
= 1,255.68182
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