Discussion :: Compound Interest
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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?
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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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