A sum of money amounts to Rs.10962 after 5 years and Rs.13003.2 after 8 years at the same rate of simple interest. What is the amount of compound interest at the same rate of interest and on the same sum of money? (nearest value)

For simple interest: Amount after 5 years = P + SI = P + P×R×5/100 = P(1 + 5R/100) = 10962. After 8 years: P(1 + 8R/100) = 13003.2. Difference: P(3R/100) = 13003.2 - 10962 = 2041.2. So PR = 2041.2 × 100/3 = 68040. From 5 year equation: P + 5 × 68040/100 = P + 3402 = 10962, so P = 7560, R = 9%. CI for same principal at 9% for appropriate time = 7560(1.09)^n - 7560. Assuming 8 years: CI = 7560 × 1.99256 - 7560 ≈ 15064 - 7560 = 7504. But answers are around 2200. Let me reconsider - maybe 3 years CI? For 3 years: 7560(1.09)³ - 7560 = 9799 - 7560 = 2239. So approximately 2230, which matches option B.