The compound interest on a certain sum for 2 years at 10% per annum is Tk. 525. The simple interest on the same sum for double the time at half the rate percent per annum is :

The compound interest on a certain sum for 2 years at 10% per annum is Tk. 525. The simple interest on the same sum for double the time at half the rate percent per annum is : Correct Answer Tk. 500

We know, C = P ( 1 + r)n I + P = P ( 1 + r)n 525 + P = P (1 + 10%)2 525 = 1.21P - P P = 525/0.21 P = 2500 I = pnr = 2500×4×5% = 500
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