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If the compound interest on a sum for 2 years at 12.5% p.a. is rs. 510, the simple interest on the same sum at the same rate for the same period of time is
If the compound interest on a sum for 2 years at 12.5% p.a. is rs. 510, the simple interest on the same sum at the same rate for the same period of time is
1). Rs. 400
2). Rs. 450
3). Rs. 460
4). Rs. 480
1). Rs. 400
2). Rs. 450
3). Rs. 460
4). Rs. 480
This Question has 1 answers.
Formulas to be used: -
SI, I = (P × r × t)/100
For CI:
$(A\; = \;P\;{\left( {\;1\; + \frac{r}{{100}}} \right)^t})$; CI = A – P
Where SI is Simple interest,
A is the amount on CI at the end of time t,
P is the principal,
t is time,
r is rate
Given, compound interest on a sum for 2 years at 12.5 p.a. is rs. 510.
$(A = P\;{\left( {\;1 + \frac{{12.5}}{{100}}} \right)^2})$
⇒ A = P(1.125)2
⇒ A = 1.265625P
CI = A – P
⇒ CI = 1.265625P – P
⇒ CI = 0.265625P
Given, CI = Rs. 510
∴ 0.265625P = 510
⇒ P = Rs. 1920
SI on the same sum at the same rate for the same period of time is:
SI = (1920 × 12.5 × 2)/100
⇒ SI = Rs. 480Similar Questions
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