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If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time?

Correct Answer: Rs.51.25

Explanation:


Sum =Rs.(50 x 100/2x5)


= Rs. 500.


Amount


=[Rs.500x(1+5/100)²]


=Rs(500x21/20x21/20).


=Rs. 551.25


 


C.I


= Rs. (551.25 - 500)


= Rs. 51.25


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