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 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.
Find the difference between the compound interest and the simple interest in 2 years on Rs 5,000 at 8% p.a. compounded annually.
Calculate the amount and the compound interest for the following:
Rs 20,000 for 2 years if the rates of interest are `12 1/4` and `5 1/2` for the successive years.
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.
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 new car is purchased for Rs 4, 00,000 .Its value depreciates at the rate of 10% per annum. What will be its value after 4 years?
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 is lent out at compound interest for two years at 20% p.a., being reckoned yearly. If the same sum of the money was lent Gut at compound interest of the same rate of percent per annum C.I., being reckoned half yearly would have fetched Rs. 482 more by way of interest. Calculate the sum of money lent out.
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.
