Question 87
The compound interest on a certain sum for 2 years at 10% per annum is Rs.525/. The simple interest on the same sum for double the time at half the rate percent per annum is...........
Solution
Let the sum be Rs. $$x$$
=> C.I. = $$x[(1 + \frac{10}{100})^2 - 1] = 525$$
= $$x(\frac{121}{100} - 1) = 525$$
= $$x = \frac{525 * 100}{21} = 2500$$
Now, simple interest at 5% for 4 years
= $$\frac{2500 \times 5 \times 4}{100}$$
= Rs. 500
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