If at same rate of interest, in 2 years, the simple interest is ₹42 and compound interest is ₹63, then what is the principal (in ₹)?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 21.
1st year : 2nd year
SI 21 : 21
Rate of interest = (21/21) × 100 = 100%
P = (21 × 100)/(100 × 1) = 21