The compound interest on a certain sum of money for 2 years at 5% per…

Question

The compound interest on a certain sum of money for 2 years at 5% per annum is Rs 410. The simple interest on the same sum at the same rate and for the same time is = ?

Accepted Answer

Option A. Rs. 400. Answer & Solution Answer: Option A Solution: & Rate of interest 5\% & = 120 & Let principal & = ( 20 )^2 = 400 units & Total compound interest & 41 Units Rs. 410 & 1 Units Rs. 10 & 400 Units Rs. 400 & Total simple interest & = Rs. 400 Alternate Total compound interest for 2 year…