Saved Bookmarks
| 1. |
*What is the difference between simple interest and compound interest for 2 years at the rate of 5% on Rs.1000?*1️⃣ Rs. 2502️⃣ Rs. 25003️⃣ Rs. 2.504️⃣ Rs. 100 mo |
|
Answer» Given : simple interest and COMPOUND interest for 2 years at the rate of 5% on RS.1000 To Find : difference between simple interest and compound interest 1️⃣ Rs. 250 2️⃣ Rs. 2500 3️⃣ Rs. 2.50 4️⃣ Rs. 100 Solution: SI = P * R * T /100 CI = P(1 + R/100)^T - P Method 1 : Difference in interest is , interest of interest earned in 1st year Interest in 1st year = 1000 x 5 * 1 /100 = 50 Interest for 1 year on Rs 50 = 50 * 5 * 1/100 = =2.50 Rs Method 2 SI = 1000 * 5 * 2 /100 = Rs 100 CI = 1000(1 + 5/100)² - 1000 => CI = 1000 (21/20)² - 1000 => CI = 1000 * 441/400 - 1000 => CI = 5 * 441/2 - 1000 => CI = 2205/2 - 1000 => CI = 1102.5-1000 => CI = 102.5 Difference between simple interest and compound interest = 102.5 - 100 = Rs 2.5 Learn More: if the difference between the ci and si for 2 years at 12 percentage ... 1. Find the difference between C.I and S.I on 5000 for 1 year at 2 ... |
|