Discussion :: Compound Interest
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The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:
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Answer : Option B
Explanation :
Let the sum be Rs. P.
Then,\([P(1 +(\frac { 10 } { 100 } ) ^2-P]\)=525
P[\( (\frac { 11 } { 10 } )^2-1]\)=525
P =[\([\frac {525*100 } { 2 1} ]\)=2500
Sum = Rs . 2500.
So, S.I. = Rs.\([\frac {2500*5*4} { 100} ]\)=Rs.500
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