Subrata invested a certain amount of money at 10% per annum. After 2 years, he received ₹220.5 as compound interest, compounded annually. Find the corresponding simple interest (in ₹) for 2 years at the same rate.
210
Compound interest formula: \(P\left[(1.1)^2-1\right]=220.5 \Rightarrow P\times0.21=220.5 \Rightarrow P=1050\).
Simple interest for 2 years: \(P\times\dfrac{10\times2}{100} = 1050\times0.2 = 210\).
Hence, the corresponding simple interest for 2 years is ₹210.
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