Multiple Choice Questions on There is 50 increase in an amount in 5 years at simple interest What will be the compound interest o........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

There is 50 increase in an amount in 5 years at simple interest What will be the compound interest o...........

Quantitative Aptitude ( CCS) Compound Interest
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    There is 50% increase in an amount in 5 years at simple interest. What will be the compound interest of Rs. 10,000 after 2 years at the same rate?

    Rs2450
    Incorrect Answer
    Rs2100
    Correct Answer
    Rs1855
    Incorrect Answer

    Rs2200

    Incorrect Answer
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    Explanation:

    Let principal be Rs100. rate r.
    50% increase in amount says SI=50.
    (100*5*r /100) =50
    r=10%.
    CA=P[(1+r/100)2] =10,000*[(1+10/100) 2] =10,000*11/10*11/10
    =12100.
    CI=Rs2100.

    Hence, option 2 is the correct answer.

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