Q:
If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time
Answer & Explanation
Answer: A) Rs.51.25
Explanation:
Sum = Rs.(50*100)/2*5=Rs.500
Amount=Rs.[500*(1+5/100)2]
= Rs. 551.25
C.I = Rs.(551.25-500)= Rs.51.25
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