Varun invested Rs. X at the rate of 8 % per annum for five years and obtained total simple interest of Rs. 5000. Had he invested the same amount at the same rate of interest for two years, then how much amount would he have obtained as compound interest (compound annually)?
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Q:
Varun invested Rs. X at the rate of 8 % per annum for five years and obtained total simple interest of Rs. 5000. Had he invested the same amount at the same rate of interest for two years, then how much amount would he have obtained as compound interest (compound annually)?
- 1Rs. 2050false
- 2Rs.2010false
- 3Rs.2060false
- 4Rs.2080true
- 5Rs.2040false
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