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(#M40008420) SELF question self Keep an EYEIf 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? A. Rs. 51.25 B. Rs. 52 C. Rs. 54.25 D. Rs. 60 View Answer Workspace Report Discuss in Forumniru (10 years ago) Unsolved Is this Puzzle helpful? (4) (0) Submit Your SolutionRead Solution (0) : Please Login to Read Solution. A. Rs. 51.25 B. Rs. 52 C. Rs. 54.25 D. Rs. 60 E. None of these Solution(By Examveda Team)$$\eqalign{ & {\text{Sum}} = Rs.\,\left( {\frac{{50 \times 100}}{{2 \times 5}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,500 \cr & {\text{Amount}} = Rs.\,\left[ {500 \times {{\left( {1 + \frac{5}{{100}}} \right)}^2}} \right] \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,\left( {500 \times \frac{{21}}{{20}} \times \frac{{21}}{{20}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,551.25 \cr & \therefore {\text{C}}{\text{.I}}{\text{.}} = Rs.\,\left( {551.25 - 500} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,51.25 \cr} $$ 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 sum at the same rate and for the same time?
Answer (Detailed Solution Below)Option 1 : Rs. 51.25 Free 15 Questions 15 Marks 13 Mins Given: Time = 2 years Rate of interest = 5% S.I. = Rs. 50 Calculation: S.I. = PRT/100 ⇒ 50 = P × 5 × 2/100 ⇒ 5 = P/100 ⇒ P = 500 A = P[1 + (r/100)]t ⇒ A = 500[1 + (5/100)]2 ⇒ A = 500 × (21/20) × (21/20) ⇒ A = 551.25 C.I. for 2 years = 551.25 - 500 = Rs. 51.25 Latest Odisha Police SI Updates Last updated on Dec 2, 2022 The Odisha Police Recruitment Board is expected to release the official notification to recruit candidates for the post of Odisha Police SI. For the last recruitment cycle, the board released a total of 477 vacancies and expected to release more for this year. The selection of the candidates depends on their performance in the Written Exam, Physical Standard Test, and Physical Efficiency Test. With an expected Odisha Police SI Salary of Rs. 16,880, it is a golden opportunity for many job seekers. Stay updated with the Quantitative Aptitude questions & answers with Testbook. Know more about Interest and ace the concept of Simple Interest. If the simple interest on a sum of money for 2 yr 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 (Detailed Solution Below)Option 1 : Rs. 51.25 Free CT 1: International and National Awards 10 Questions 10 Marks 8 Mins Given : S.I on money for 2 year at 5% = Rs. 50 Formula used : S.I. = P × R × T / 100 Amount (A) = P(1 + R/100)n C.I = A - P Where, P = principal, R= Rate, T= Time Calculation : We know that S.I. = P × R × T / 100 50 = P × 5 × 2 /100 ⇒ P = 500 Again, in compound interest, the amount ⇒ A = 500(1 + 5/100)2 ⇒ A = 500 (1 + .05)2 ⇒ A = Rs. 551.25 Hence, compound interest C.I = 551.25 - 500 = Rs. 51.25 ∴ Compound Interest = Rs. 51.25 Last updated on Nov 29, 2022 AFCAT 1 2023 Application Link Active. The Indian Air Force (IAF) began the AFCAT 1 2023 Registration on 1st December 2022 and the registration process will continue till 30th December 2022. For NCC Special Entry in the flying branch, NCC Air Wing C Certificate is mandatory. The AFCAT Entry exam will be conducted to recruit candidates in various branches such as Flying, Technical, Weapon Systems, Administration, Logistics, Accounts, Education & Meteorology. Check out AFCAT 1 2023 Eligibility here. The AFCAT Exam will be from 24th to 26th February 2023. Ace your Interest preparations for Simple and Compound Both with us and master Quantitative Aptitude for your exams. Learn today! Is the simple interest on a sum of money for 2 years at 5% per annum is rupees 50 What is the compound interest on the same at the same rate and for the same time?Hence, Compound interest will be 51.25 Rs.
On what sum of money will compound interest for 2 years at 5% per annum?On what priniciple will the compound interest at 5% per annum for 2years compounded annually be Rs164.
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If the simple interest on a sum of money for 2 years at 5% per annum is Rs 50
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