Sita deposited ₹ 5,000 at 10% simple interest for 2 years. How much more money (In ₹) will Sita

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6.Interest

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Sita deposited ₹ $5,000$ at 10\% simple interest for $2$ years. How much more money (In ₹) will Sita have in her account at the end of two years, if it is compounded semi-annually?

A

$50$

B

$40$

C

$77.50$

D

$85.50$

Solution

(c) Rate $=5 \%,$ Time $=4$ half-years

$\therefore \quad Cl =P\left[\left(1+\frac{R}{100}\right)^{T}-1\right]$

$=5000\left[\left(1+\frac{5}{100}\right)^{4}-1\right]$

$=5000\left(\frac{194481}{160000}-1\right)$

$=\frac{5000 \times 34481}{160000}=₹ 1077.5$

$SI =\frac{5000 \times 10 \times 2}{100}=₹ 1000$

Difference $=1077.5-1000=₹ 77.5$

Standard 13

Quantitative Aptitude

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