(A) Let the principal be $P$. The formula for compound interest is $CI = P(1 + r/100)^n - P$.Given $r = 5 \%$,$n = 2$ years,and $CI = ₹ 410$.$410 = P(

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(A) Let the principal be $P$. The formula for compound interest is $CI = P(1 + r/100)^n - P$.Given $r = 5 \%$,$n = 2$ years,and $CI = ₹ 410$.$410 = P(1 + 5/100)^2 - P$$410 = P(1.05)^2 - P$$410 = P(1.1025 - 1)$$410 = 0.1025P$$P = 410 / 0.1025 = 4000$.Now,calculate simple interest for the same sum,rate,and time:$SI = (P \times r \times t) / 100$$SI = (4000 \times 5 \times 2) / 100$$SI = 4000 \times 0.1 = ₹ 400$.

Competitive Quantitative Aptitude Interest Compound Interest

Medium

The compound interest on a certain sum of money for $2$ years at $5 \%$ per annum is ₹ $410$. The simple interest (in ₹) on the same sum at the same rate and for the same time is:

A
$400$
B
$300$
C
$350$
D
$405$

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The compound interest on a certain sum of money for $2$ years at $5 \%$ per annum is ₹ $410$. The simple interest (in ₹) on the same sum at the same rate and for the same time is:

Similar Questions

The compound interest accrued on an amount at the end of $3$ $years$ at $15$ $p.c.p.a.$ is $Rs. 6500.52$. What is the principal amount (in $Rs.$)?

If a sum of money compounded annually becomes $1.44$ times of itself in $2$ years,then the rate of interest per annum (in $\%$) is:

$A$ sum of ₹ $15000$ deposited at compound interest becomes double after $5$ $years$. After $20$ $years$,it will become (in ₹):

If the difference between the simple and the compound interest earned on a sum of money at the rate of $5$ $p.c.p.a.$ for $2$ $years$ is $Rs. 16$,find the principal (in $Rs.$).

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