The interest earned when a sum invested at 32% p.a. simple interest for 5 years is ₹2400. The same initial sum when invested at (R + 12)% p.a. compound interest, compounded annually amounts to ₹2535 at the end of two years. Find the value of R.

Correct answer: 18

Solution

SI = P×R×T/100: 2400 = P×32×5/100 → P = ₹1500. CI: Amount = P(1+r)² = 2535. 1500(1+r)² = 2535 → (1+r)² = 1.69 → 1+r = 1.3 → r = 30%. So (R+12)% = 30% → R = 18. Note: option 4 '।' in source is a Devanagari punctuation mark — data corruption.

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