1.

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

Answer»

LET the principal amount be ‘X

∴ According to the 1st given CONDITION,

⇒ 1000 = (x × 4 × 5)/100

∴ x = 5000

∴ Required Answer $(= 2 \times 5000 \times {\left( {1 + \frac{{0.05}}{1}} \right)^{1{\rm{}} \times {\rm{}}2}} - \left( {2 \times 5000} \right) = 1025)$


Discussion

No Comment Found