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Discussion :: Compound Interest

  1. What will be the compound interest earned on an amount of Rs. 5000 in 2 years?

    I. 

    The simple interest on the same amount at the same rate of interest in 5 years is Rs. 2000.

    II. 

    The compound interest and the simple interest earned in one year is the same.

     III. 

    The amount becomed more than double on compound interest in 10 years.
    2. A.

    I only
    B.

    I and II only
    C.

    II and III only
    D.

    I and III only
    E.

    None of these

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    Answer : Option A

    Explanation :

    P = Rs. 5000 & T = 2 years.

     

    I. S.I. on Rs. 5000 in 5 years is Rs. 2000.

         

       \(\frac { 5000*R*5 } { 100} \)=2000     R = 8.

     

    Thus I only gives the answer.

     

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