Sita deposited Rs 5000 at 10 simple interest for 2 years How much more money will Sita have in her a...........

Quantitative Aptitude ( CCS) Compound Interest

Sita deposited Rs. 5000 at 10% simple interest for 2 years. How much more money will Sita have in her account at the end of two years. If it is compounded semiannually

Rs. 50

Rs. 40

Rs. 77.50

Rs. 85.50

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Explanation:

Principal = Rs. 5000
Rate % = 10%
Time = 2 years
SI for 2 years = (5000 × 2 × 10)/100 = Rs. 1000
Note: When interest is compounded semi annually.
New Rate % = 10/2 = 5%
Time = 2 × 2 = 4 years
Effective Rate% of for 4 years = 21.55%
Required CI = (5000 × 21.55)/100 = Rs. 1077.53
Thus, Required amt. = Rs. (1077.53 - 1000) = Rs. 77.53