The compound interest on a certain sum for 2 years at a certain rate of interest is Rs 1025 and Simp...........

Quantitative Aptitude ( CCS) Compound Interest

The compound interest on a certain sum for 2 years at a certain rate of interest is Rs 1025 and Simple Interest on the same sum, same time and same rate of interest is Rs 1,000. Then find the C.I for same sum in 3 years.

Rs 1575.25

Rs 1576.25

Rs 1576.75

Rs 1575.75

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Explanation:

SI for 2 years = Rs 1000 =.> Si 1 year = Rs 500
In the second years Rs 25 is added in CI (1025-1000) which is 5% of 500
Hence R=5%
5%=500
100%=10000
sum=10000
CI for 3 years= RS 1576.25

Hence, option 2 is the correct answer.

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