A certain sum of money (In Rs. ) gives Rs. 500 at 5 % S.I. for 1 year. C.I. at same rate at end of 2

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6.Interest

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A certain sum of money (In $Rs.$) gives $Rs. 500$ at $5 \%$ S.I. for 1 year. What is the $C.I.$ at the same rate at the end of $2$ years?

A

$1050$

B

$1015$

C

$1035$

D

$1025$

Solution

Principal $=\frac{S I \times 100}{\text { Rate } \times \text { Time }}=\frac{500 \times 100}{5 \times 1}=$ Rs. 10000

$\Rightarrow$ Now CI at $5 \%$ rate $=1000\left[\left(1+\frac{5}{100}\right)^{2}-1\right]=$ Rs. 1025

Standard 13

Quantitative Aptitude

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