Mark (✓) against the correct answer:

Question:

Mark (✓) against the correct answer:

The compound interest on Rs 5000 at 10% per annum for 2 years is

(a) Rs 550

(b) Rs 1050

(c) Rs 950

(d) Rs 825

Solution:

(b) Rs 1050

$P=$ Rs. 5000

$R=10 \%$

$n=2$ years

Now, $A=$ Rs. $P \times\left(1+\frac{R}{100}\right)^{n}$

$=$ Rs. $5000 \times\left(1+\frac{10}{100}\right)^{2}$

$=$ Rs. $5000 \times\left(\frac{110}{100}\right)^{2}$

$=$ Rs. $5000 \times\left(\frac{11}{10}\right) \times\left(\frac{11}{10}\right)$

$=$ Rs. $(50 \times 11 \times 11)$

$=$ Rs. 6050

$\therefore \mathrm{CI}=A-P=$ Rs. $(6050-5000)=$ Rs. 1050

 

 

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