Question

If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50,what will be the compound interest on the same sum at the same rate for the same time​

Answer 1

Given

S.I=50 Rs.

Rate of interest=5 %

Time =2 years

Let the sum=P Rs

S.I.=P X R X T / 100

P=50 X 100 ? 5 X 2

P =500

Amount=Rs.[500×(1+5100)2]

=Rs.(500×2120×2120)

=Rs.551.25

C.I.=Rs.(551.25−500)=Rs.51.25

Answer 2

Given

S.I=50 Rs.

Rate of interest=5 %

Time =2 years

Let the sum=P Rs

S.I.=P X R X T / 100

P=50 X 100 ? 5 X 2

P =500

Amount=Rs.[500×(1+5100)2]

=Rs.(500×2120×2120)

=Rs.551.25

C.I.=Rs.(551.25−500)=Rs.51.25