Find the compound interest on 5000 at 10% per annum for 1 year, interest compounded annually.

400

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250

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1000

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500

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Solution

The correct option is D 500
For the first year, Compound Interest $=$ Simple Interest
Simple Interest $S I = \frac{P N R}{100}$
So, $C I = S I = \frac{5000 \times 1 \times 10}{100} = R s 500$

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