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UP TGT Mathematics Commercial Mathematics Test Series - Part 3

The simple interest on a sum of money for 2 years at 5% p.a. is Rs. 100. Find the compound interest on the same sum at t...

Type: MCQ • Marks: 1
The simple interest on a sum of money for 2 years at 5% p.a. is Rs. 100. Find the compound interest on the same sum at the same rate and for the same period.
Options
A. 1) Rs. 103.00
B. 2) Rs. 101.50
C. 3) Rs. 105.00
D. 4) Rs. 102.50
Explanation
P = (100 * 100) / (5 * 2) = Rs. 1,000. CI = 1000 * [(1.05)^2 - 1] = 1000 * 0.1025 = Rs. 102.50.
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