A) Rs. 1020
B) Rs. 1055
C) Rs. 1050
D) Rs. 1025
E) None of these
Correct Answer: D
Solution :
[d] Suppose the principle amount = Rs. x |
Then, \[7200=\frac{x\times 12\times 6}{100}\] |
\[\Rightarrow \] \[x=\frac{7200\times100}{12\times6}\] \[\Rightarrow \] \[x=Rs.10000\] |
\[\therefore \] Compound interest |
\[=10000{{\left( 1+\frac{5}{100} \right)}^{2}}-10000\] |
\[=10000{{\left(\frac{21}{20}\right)}^{2}}-10000\] \[=10000\times \frac{441}{400}-10000\] |
\[=\frac{4410000-4000000}{400}\] |
\[=\frac{410000}{400}=Rs.\,\,1025\] |
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