Question
The simple interest on a certain sum of money for 2 years at 5% is Rs.1600. The compound interest at the same rate after 3 years interest compound annually, is
Answer: Option D
Answer: (d)Principal = $\text"S.I. × 100"/\text"Time × Rate"$= ${1600 × 100}/{5 × 2}$ = Rs.16000C.I. = P$[(1 + R/100)^T - 1]$= 16000$[(1 + 5/100)^3 –1]$= 16000$[(21/20)^3 - 1]$= $16000(9261/8000 - 1)$= ${16000 × 1261}/8000$ = Rs.2522
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Answer: (d)Principal = $\text"S.I. × 100"/\text"Time × Rate"$= ${1600 × 100}/{5 × 2}$ = Rs.16000C.I. = P$[(1 + R/100)^T - 1]$= 16000$[(1 + 5/100)^3 –1]$= 16000$[(21/20)^3 - 1]$= $16000(9261/8000 - 1)$= ${16000 × 1261}/8000$ = Rs.2522
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