Subject
Quantitative Aptitude
Topic
Interest
A man gets a simple interest of Tk.1000 on a certain principal at the rate of 5 Percent Compounded Per Annum in 4 year. What compound interest will the man get on twice the principal in two years at the same rate?
A man gets a simple interest of Tk.1000 on a certain principal at the rate of 5 Percent Compounded Per Annum in 4 year. What compound interest will the man get on twice the principal in two years at the same rate?
ক)
Tk.1050খ)
Tk.1005গ)
Tk.11025ঘ)
Tk.1025Explanation
The Principal P = (SI×100)/(rn) = 100000/20 = Tk.5000. Twice the principal = Tk.10000 CI = P[ (1 + r/100)n -1] = 10000 [(1+ 5/100)² - 1] =(10000 × 1.05 × 1.05) – 10000 = 11025 – 10000 = Tk.1025.Related questions
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