If X is invested in a bank at a rate of simple interest of y% p.a. for two years, then the interest earned is 500. if X is invested at y% p.a., for two years when the interest is compounded annually, the interest is 512.50. What is the value of X?	Choose the correct choice from the following choices:	A) 8000	B) 6000	C) 5000	D) 4000	E) 3000
Simple way to solve this question is to use options.   From SI, we know that X*y=25,000.   Now, put the value of X = 5000, we will have y = 5%   To calculate CI,   Now, we know 1st year Amount= 5000+5% of 5000= 5250.   2nd year, Amount = 5250 + 5% of 5250 = 5512.50.   We can see after 2 years Interest = 5512.50-5000= 
<gadget id="calculator">5512.50-5000</gadget>
<output>512.5</output>
512.50 hence, it satisfies the question. Hence 5000 is the correct answer
<result>C</result>
If X is invested in a bank at a rate of simple interest of y% p.a. for two years, then the interest earned is 500. if X is invested at y% p.a., for two years when the interest is compounded annually, the interest is 512.50. What is the value of X?