| The simple interest accrued on a sum of certain principal is Rs. 2000 in five years at the rate of 4% per annum. What would be the compound interest accrued on same principal at same rate in two years? |
A) Rs. 716
B) Rs. 724
C) Rs. 824
D) 816
E) None of these
Correct Answer: D
Solution :
| \[2000=\frac{P\times 4\times 5}{100}\] |
| \[\therefore \] \[P=1000\] |
| Now, \[CI=10000\left[ {{\left( 1+\frac{4}{100} \right)}^{2}}-1 \right]\] |
| \[=10000\times 0.0816=816\] |
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