Question
There is 100% increase to an amount in 8 years, at simple interest. Find the compound interest of Rs.8000 after 2 years at the same rate of interest.
Answer: Option A
Answer: (a)Using Rule 1,Let S.I. = Rs.100, & Principal = Rs.100Rate = $\text"S.I. × 100"/\text"Principal × Time"$= ${100 × 100}/{100 × 8} = 25/2$%C.I. = P$[(1 + r/100)^T - 1]$= 8000$[(1 + 25/200)^2 - 1]$= 8000 $(81/64 - 1)$= ${8000 × 17}/64$ = Rs.2125
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Answer: (a)Using Rule 1,Let S.I. = Rs.100, & Principal = Rs.100Rate = $\text"S.I. × 100"/\text"Principal × Time"$= ${100 × 100}/{100 × 8} = 25/2$%C.I. = P$[(1 + r/100)^T - 1]$= 8000$[(1 + 25/200)^2 - 1]$= 8000 $(81/64 - 1)$= ${8000 × 17}/64$ = Rs.2125
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