If the simple interest on a sum of money for 2 years at 5% per annum is Rs.50, what will be the compound interest on same values
Rs.51.75
Rs 51.50
Rs 51.25
Rs 51
Explanation:
S.I.=P∗R∗T/100
P=(50∗100)/5∗2=500
Amount=500(1+5/100)^2
500(21/20∗21/20)=551.25
C.I.=551.25−500
=51.25
S.I.=P∗R∗T/100
P=(50∗100)/5∗2=500
Amount=500(1+5/100)^2
500(21/20∗21/20)=551.25
C.I.=551.25−500
=51.25