If the compound interest on a sum for 2 yr at 12.5% per anum

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RRB TA Exam (Chennai) 2008 click here to view all questions

If the compound interest on a sum for 2 yr at 12.5% per annum is Rs.510, the simple interest on the same sum at the same rate for the same period of time is

ARs.400

BRs.480

CRs.450

DRs.460

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Correct answer is: Rs.480 Explanation: Let's recalculate the answer. We have: - Compound Interest (CI) = Rs. 510 - Time period (T) = 2 years - Rate of interest (R) = 12.5% To find the principal amount (P), we'll use the formula for compound interest: $$CI=P{(1+\frac{R}{100})}^T-P$$ Substituting the given values: $$510=P{(1+\frac{12.5}{100})}^2-P$$ Let's first calculate ${(1+\frac{12.5}{100})}^2$: $${(1+\frac{12.5}{100})}^2={\left(1.125\right)}^2=1.265625$$ So, the equation becomes: $$510=P\times 1.265625-P$$ $$510=1.265625P-P$$ $$510=0.265625P$$ Now, divide both sides by $0.265625$ to find $P$: $$P=\frac{510}{0.265625}$$ $$P\approx 1919.047619$$ Now that we have the principal amount ($P$), let's calculate the simple interest (SI) using the formula: $$SI=P\times R\times T$$ Substituting the values of $P$, $R$, and $T$: $$SI=1919.047619\times \frac{12.5}{100}\times 2$$ $$SI\approx 479.7619$$ Rounding to the nearest rupee, the simple interest is approximately Rs. 480. Therefore, the correct answer is option B. Rs. 480. Thank you for your patience, and I apologize for any confusion caused. Md Hasnain Reza ? answered Mar 23 '2018 at 17:5 All Comments

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