Compound Interest - Arithmetic Aptitude Questions and Answers

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Discussion :: Compound Interest

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?

Rs. 51.25

54.25

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Answer : Option A

Explanation :

Sum = Rs. $(\frac { 50*100 } { 2*5 })$ = Rs. 500.

Amount=Rs. $[500*(1+\frac { 5} { 100 } )^2]$

=Rs. $(500*\frac { 21 } { 20 } *$ $\frac { 21 } { 2 0}$ ]

=Rs.551.25

C.I. = Rs. (551.25 - 500) = Rs. 51.25

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