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Find the difference between the simple interest and compound interest on Rs. 22,000 for 2 years at6% per annum, compound interest being reckoned semi-annually. |
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Answer» Step-by-step explanation: The difference between the compound interest and the simple interest on Rs.42000 for two years is Rs.105 at the same RATE of interest per annum. FIND (i) the rate of interest (ii) the compound interest EARNED in second year. MEDIUM Help best friend Study later ANSWER P = Rs 42000 T=2 years Let rate = r % S.I= 100 PRT
= 100 42000×r×2
=840 Rs For C.I A=P(1+ 100 r
) n
=42000(1+ 100 r
) 2
=42000(1+ 10000 r 2
+ 50 r
) =42000+ 10 42r 2
+840r C.I = A - P =42000+ 10 42r 2
+840r−42000 = 10 42r 2
+840r Given C.I−S.I=105 = 10 42r 2
+840r−840r=105 = 10 42r 2
=105 =42r 2 =1050 =r 2 =25 r=5% C.I at 2nd year = 42000(1+ 100 5
) 2 −42000 =42000(1.1025−1)=4305 Rs |
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