A certain sum of money (in Rs.) gives Rs. 500 | vedclass

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(D) Step $1$: Calculate the Principal $(P)$.Given $S.I. = Rs. 500$,$R = 5 \%$,$T = 1$ year.$P = \frac{S.I. 	imes 100}{R 	imes T} = \frac{500 	imes

Vedclass · Accepted Answer

$1025$

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(D) Step $1$: Calculate the Principal $(P)$.Given $S.I. = Rs. 500$,$R = 5 \%$,$T = 1$ year.$P = \frac{S.I. 	imes 100}{R 	imes T} = \frac{500 	imes 100}{5 	imes 1} = Rs. 10,000$.Step $2$: Calculate the Compound Interest $(C.I.)$ for $2$ years.$C.I. = P \left[ \left( 1 + \frac{R}{100} ight)^n - 1 ight]$$C.I. = 10,000 \left[ \left( 1 + \frac{5}{100} ight)^2 - 1 ight]$$C.I. = 10,000 \left[ (1.05)^2 - 1 ight]$$C.I. = 10,000 \left[ 1.1025 - 1 ight]$$C.I. = 10,000 	imes 0.1025 = Rs. 1,025$.

$A$ certain sum of money (in $Rs.$) gives $Rs. 500$ as Simple Interest $(S.I.)$ at $5 \%$ per annum for $1$ year. What is the Compound Interest $(C.I.)$ on the same sum at the same rate at the end of $2$ years?

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