UP TGT Mathematics Commercial Mathematics Test Series - Part 3
If the simple interest on a sum of money for 2 years at 5% p.a. is Rs. 50, find the compound interest on the same sum at...
Type: MCQ • Marks: 1
If the simple interest on a sum of money for 2 years at 5% p.a. is Rs. 50, find the compound interest on the same sum at the same rate and time compounded half-yearly.
Options
A. 1) Rs. 52.50
B. 2) Rs. 51.89
C. 3) Rs. 53.00
D. 4) Rs. 51.25
Explanation
P = (50 * 100) / (5 * 2) = Rs. 500.
For half-yearly: r = 2.5%, n = 4 half-years.
Amount = 500 * (1.025)^4 = 500 * 1.10381289 = Rs. 551.89.
CI = 551.89 - 500 = Rs. 51.89.
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