A man gets a simple interest of Rs. 1000 on a | vedclass

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Question

(C) Step $1$: Calculate the original principal $(P)$.Simple Interest $(SI)$ $= \frac{P 	imes R 	imes T}{100}$$1000 = \frac{P 	imes 5 	imes 4}{100}

Vedclass · Accepted Answer

$1025$

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(C) Step $1$: Calculate the original principal $(P)$.Simple Interest $(SI)$ $= \frac{P 	imes R 	imes T}{100}$$1000 = \frac{P 	imes 5 	imes 4}{100}$$1000 = \frac{P 	imes 20}{100}$$P = \frac{1000 	imes 100}{20} = Rs. 5000$Step $2$: Calculate the new principal $(P')$ and Compound Interest $(CI)$.New Principal $(P')$ $= 2 	imes P = 2 	imes 5000 = Rs. 10000$Rate $(R)$ $= 5\%$,Time $(T)$ $= 2$ years.$CI = P' \left[ \left( 1 + \frac{R}{100} ight)^T - 1 ight]$$CI = 10000 \left[ \left( 1 + \frac{5}{100} ight)^2 - 1 ight]$$CI = 10000 \left[ \left( \frac{105}{100} ight)^2 - 1 ight]$$CI = 10000 \left[ \frac{11025}{10000} - 1 ight]$$CI = 10000 \left[ \frac{11025 - 10000}{10000} ight]$$CI = 10000 	imes \frac{1025}{10000} = Rs. 1025$

$A$ man gets a simple interest of $Rs. 1000$ on a certain principal at the rate of $5$ $p.c.p.a.$ in $4$ years. What compound interest (in $Rs.$) will the man get on twice the principal in two years at the same rate?

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