At a certain simple rate of interest, a given sum amounts to Rs.13920 in 3 years, and to Rs 18960 in 6 years and 6 months. If the same given sum had been invested for 2 years at the same rate as before but with interest compounded every 6 months, then the total interest earned, in rupees, would have been nearest to
3221
SI for 3.5 years = \(18960-13920=5040\), so SI per year = \(1440\).
Principal = \(13920-3\times 1440=9600\), rate = \(\dfrac{1440}{9600}\times 100=15\%\).
Half-yearly: 7.5% for 4 periods.
CI = \(9600\left[(1.075)^{4}-1\right]=9600(1.33547-1)\approx 3220.5\).
Hence, 3221.
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