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A sum fetches a simple interest of Tk. 6000 at the rate of 5% p.a. in 6 years . what would be the compound interest earned at the same rate of interest and the same principal in 2 years?

A sum fetches a simple interest of Tk. 6000 at the rate of 5% p.a. in 6 years . what would be the compound interest earned at the same rate of interest and the same principal in 2 years? Correct Answer Tk. 2050

The sum = Tk. (6000 × 100)/(5 × 6) = Tk. 20000 Compound Interest = (20000 × 105/100 × 105/100) – 20000 = Tk. 2050. Ans: A

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