a) Rs. 350
b) Rs. 375
c) Rs. 380
d) Rs. 400
Answer: d
Explanation:
$$\eqalign{
& {\text{Rate = 10}}\% \cr
& {\text{Time = 2 years}} \cr
& {\text{Effective rate of CI for 2 years}} \cr
& {\text{ = 10 + 10 + }}\frac{{10 \times 10}}{{100}} = 21\% \cr
& {\text{Effective rate of SI for 2 years}} \cr
& {\text{ = 2}} \times {\text{10 = 20}}\% \cr
& {\text{Required SI}} \cr
& {\text{ = }}\frac{{420}}{{21}} \times {\text{20 = Rs. 400}} \cr} $$
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