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
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.
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.
On what sum will the difference between compound interest and the simple interest for 2 years at `7 1/2` % be Rs 22.50 ?
The population of a town in the year 2005 was 4, 25,000. Find its population in the year 2007 if the rate of annual increase is 4% per year.
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.
A building worth Rs 1, 33,100 is constructed on a plot of land worth Rs 72,900. After how many years will the values of both be same, if the land appreciates at 10% p.a. and the building depreciates at 10% p.a.?
A sum of money amounts to ₹ 2,240 at 4 % p.a., simple interest in 3 years. Find the interest on the same sum for 6 months at 3`(1)/(2)`% p.a.
