Railways Exam  >  Railways Questions  >  If the simple interest on a sum of money for ... Start Learning for Free
If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 250, what is the compound interest (approximate) on the same at the same rate and for the same time?
  • a)
    Rs. 225
  • b)
    Rs. 250
  • c)
    Rs. 256
  • d)
    Rs. 265
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
If the simple interest on a sum of money for 2 years at 5% per annum i...
Interest from simple interest = PRT/100
The formula for CI at annual compound interest, including principal sum, is: CI =
Where:
CI = Compound Interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the number of years the money is invested or borrowed for
SI = Rs. 250
Principal = 250 × 100/(2 × 5) = Rs. 2500
CI = (2500(1 + 5/100)2 - 2500) = Rs. 256.25
View all questions of this test
Explore Courses for Railways exam
If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 250, what is the compound interest (approximate) on the same at the same rate and for the same time?a)Rs. 225b)Rs. 250c)Rs. 256d)Rs. 265Correct answer is option 'C'. Can you explain this answer?
Question Description
If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 250, what is the compound interest (approximate) on the same at the same rate and for the same time?a)Rs. 225b)Rs. 250c)Rs. 256d)Rs. 265Correct answer is option 'C'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 250, what is the compound interest (approximate) on the same at the same rate and for the same time?a)Rs. 225b)Rs. 250c)Rs. 256d)Rs. 265Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 250, what is the compound interest (approximate) on the same at the same rate and for the same time?a)Rs. 225b)Rs. 250c)Rs. 256d)Rs. 265Correct answer is option 'C'. Can you explain this answer?.
Solutions for If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 250, what is the compound interest (approximate) on the same at the same rate and for the same time?a)Rs. 225b)Rs. 250c)Rs. 256d)Rs. 265Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Railways. Download more important topics, notes, lectures and mock test series for Railways Exam by signing up for free.
Here you can find the meaning of If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 250, what is the compound interest (approximate) on the same at the same rate and for the same time?a)Rs. 225b)Rs. 250c)Rs. 256d)Rs. 265Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 250, what is the compound interest (approximate) on the same at the same rate and for the same time?a)Rs. 225b)Rs. 250c)Rs. 256d)Rs. 265Correct answer is option 'C'. Can you explain this answer?, a detailed solution for If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 250, what is the compound interest (approximate) on the same at the same rate and for the same time?a)Rs. 225b)Rs. 250c)Rs. 256d)Rs. 265Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 250, what is the compound interest (approximate) on the same at the same rate and for the same time?a)Rs. 225b)Rs. 250c)Rs. 256d)Rs. 265Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 250, what is the compound interest (approximate) on the same at the same rate and for the same time?a)Rs. 225b)Rs. 250c)Rs. 256d)Rs. 265Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice Railways tests.
Explore Courses for Railways exam

Top Courses for Railways

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev