If at same rate of interest, in 2 years, the simple interest is ₹42 and compound interest is ₹49, then what is the principal (in ₹)?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 63.
1st year : 2nd year
SI 21 : 21
CI 21 : 21 + 7
Rate of interest = (7/21) × 100 = 100/3%
P = (21 × 100 × 3)/(100 × 1) = 63