A sum of Rs 20000 becomes Rs 32000 in 12 years, when invested in a scheme of simple interest. If the same sum is invested in a scheme of compound interest with same yearly interest rate (compounding of interest is done yearly), then what will be the amount (in Rs) after 2 years?

A sum of Rs 20000 becomes Rs 32000 in 12 years, when invested in a scheme of simple interest. If the same sum is invested in a scheme of compound interest with same yearly interest rate (compounding of interest is done yearly), then what will be the amount (in Rs) after 2 years? Correct Answer 22050

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Find the interest obtained after 3 years on a sum which is invested on compound interest at the rate of R% per annum? Statement I: If Rs. 32000 is invested on simple interest at the rate of R% per annum, then Rs. 4480 interest is obtained in 2 years. Statement II: The difference of simple and compound interest on the sum is Rs. 245 after 2 years when invested at same rate.