Compound interest on a sum of money for 2 years at 4 percent

Compound interest on a sum of money for 2 years at 4 percent per annum is ₹ 2, 448. Simple interest of the same sum of money at the same rate of interest for 2 years will be

Given that , Compound Interest ( CI ) = ₹ 2, 448 , Rate ( R ) = 4% , Time = 2 years
Using the given formula ,

C.I.= P		1 +	r		^t	− P
			100

2448 = P			1 +	4		^t	− 1
				100

⇒ 2448 = P			1 +	4		²	− 1
				100

⇒ 2448 = P		676	− 1
		625

⇒ 2448 = P		676 - 625
		625

⇒ 2448 = P		51
		625

∴ P =	2448 × 625	= ₹ 30,000
	51

∴ S.I. =	30000 × 4 × 2	= ₹ 2400
	100

We can find required answer with the help of given formula :
Here, C.I. = ₹ 2448 , R = 4% , S.I. = ?

C.I. = S.I.		1 +	R
			200

2448 = S.I.		1 +	4
			200

2448 = S.I.		1 +	1
			50

2448 = S.I.		51
		50

S.I. =	2448 × 50	= ₹ 2400
	51