If the simple interest on a sum of money for 2 years at 5% per annum is Tk. 50. What is the compound interest on the same sum at the same rate and for the same time?

If the simple interest on a sum of money for 2 years at 5% per annum is Tk. 50. What is the compound interest on the same sum at the same rate and for the same time? Correct Answer Tk. 51.25

Hints: Sum = Tk. ( 50× 100) / (2× 5) = Tk. 500 Amount = Tk. [ 500×(1 + 5/100)2] = Tk. ( 500 × 21/20 × 21/20) = Tk.551.25 Compound Interest i tk. ( 551.25 - 500) = Tk. 51.25
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