Simple Interest on a sum at 4% per annum for 2 years is 80. The compound interest on the same sum for the same period is_________?

– by
Simple Interest on a sum at 4% per annum for 2 years is 80. The compound interest on the same sum for the same period is_________?

A. Rs. 81.60
B. Rs. 160
C. Rs. 1081.60
D. None of these
Explanation:
Principle = Rs.(8000/8) = Rs. 1000
Therefore, C. I = Rs. [{ 1000 × (1 +4/100)2 – 1000}]
= Rs. 81.60