NIFT PG 2014 Question Paper with solutions

Question : 57 of 150

Marks: +1, -0

The compound interest on a certain sum for 2 years at 10% per annum is ₹ 525. The simple interest on the same sum for double the time at half the rate per cent per annum is

₹ 400
₹ 500
₹ 600
₹ 800

Validate

Solution:

Let the amount is P and C.I.

=P(1+r/100)^t-P

C.I

=525=P(1+10/100)^2-P

=P(121/100-1)

=P(21/100)

⇒P=₹2500

S.I

={Prt}/100={2500×4×5}/100=₹500

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