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The compound interest on a certain sum of money for 2 years at 5% per annum is ₹ 410. The simple interest on the same sum at the same rate and for the same time is
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- ₹ 400
- ₹ 300
- ₹ 350
- ₹ 405
Correct Option: A
Here , Compound Interest ( CI ) = ₹ 410 , Rate ( R ) = 5% , Time = 2 years
Compound interest = P | ![]() | ![]() | 1 + | ![]() | T | − 1 | ![]() | |
100 |
⇒ 410 = P | ![]() | ![]() | 1 + | ![]() | 2 | − 1 | ![]() | |
100 |
⇒ 410 = P | ![]() | ![]() | 1 + | ![]() | 2 | − 1 | ![]() | |
20 |
⇒ 410 = P | ![]() | ![]() | ![]() | 2 | − 1 | ![]() | |
20 |
⇒ 410 = P | ![]() | − 1 | ![]() | |
400 |
⇒ 410 = P | ![]() | ![]() | |
400 |
⇒ P = | = ₹ 4000 | |
41 |
∴ S.I.= | |
100 |
S.I. = | = ₹ 400 | |
100 |
We can find required answer with the help of given formula :
Here, C.I. = Rs. 410 , R = 5% , S.I. = ?
C.I.= S.I. | ![]() | 1 + | ![]() | |
200 |
410 = S.I. | ![]() | 1 + | ![]() | |
200 |
410 = S.I. | ![]() | ![]() | |
200 |
S.I. = | = Rs.400 | |
205 |