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A man gets a simple interest of Rs. 1000 on a certain principal at the rate of 5% per annum in 4 yr. What compound interest will the man get on twice the principal in 2 yr at the same rate?1). Rs. 10252). Rs. 10053). Rs. 110254). None of these |
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Answer» LET the principal amount be ‘X’ ∴ According to the 1st given CONDITION, ⇒ 1000 = (x × 4 × 5)/100 ∴ x = 5000 ∴ Required Answer $(= 2 \times 5000 \times {\left( {1 + \frac{{0.05}}{1}} \right)^{1{\rm{}} \times {\rm{}}2}} - \left( {2 \times 5000} \right) = 1025)$ |
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