Advertisements
Advertisements
Question
Anand borrows Rs 20,000at 9 % p.a. simple interest for 3 years. He immediately gave it to Prakash at `8 1/2 %` p.a. compound interest compounded annually.
Find Anand's loss or gain.
Advertisements
Solution
Here, P=Rs 20,000 ; t=3 years
For simple interest: r = 9 %
S.I. = `("P" xx "r" xx "t")/100`
S.I. = Rs `(20000 xx 9 xx 3)/100`
S.I. = Rs 5400
For compound interest : r = `8 1/2 %`
`"A" = "P" (1 + "r"/100)^"n"`
A = Rs 20000 `(1 + 17/(2 xx 100))^3`
A = Rs `20000 xx 217/200 xx 217/200 xx 217/200`
A = Rs 25545.70
C.I. = A - P
C.I. = Rs (25,545.70 - 20, 000)
C. I. = Rs 5,545.70
The difference in the compound interest and the simple interest= Rs (5,545.705 - 400) = Rs 145.70
Anand gained Rs 145.70
APPEARS IN
RELATED QUESTIONS
The simple interest on a certain sum in 2 years is Rs 1,300, whereas the compound interest on the same sum at the same rate and for the same time is Rs 1,365. Find the rate per cent and the sum.
The simple interest and the compound interest on a certain sum of money for 2 years at the same rate of interest are Rs 8,000 and Rs 8,640 respectively. Calculate the rate of interest and the sum.
Calculate the amount and the compound interest for the following, when cornpounded half-yearly:
Rs 6,000 for `1 1/2` years at 10 % p.a.
Find the difference between the compound interest compounded yearly and half-yearly for the following:
Rs 20,000 for `1 1/2` years at 16 % p.a.
The population of a city is 1, 25,000. If the annual birth rate and death rate are 5.5% and 3.5% respectively, calculate the population of the city after 3 years.
In a factory the production of scooters rose to 46,305 from 40,000 in 3 years. Find the annual rate of growth of the production of scooters.
The present population of a town is 1, 15200.If it increases at the rate of `6 2/3`% per annum , find
Its population after 2 years
The population of a city is 24,000. In the next 3 years it will be 27,783. Find the rate of growth of the population.
Find the Compound Interest on Rs. 2,000 for 3 years at 15% per annum Compounded annually.
Find the difference between the simple interest and compound interest on 2,500 for 2 years at 4% p.a., compound interest being reckoned semi-annualy.
