Advertisements
Advertisements
Question
Find the difference between compound interest and simple interest on Rs.12,000 and in `1 1/2` years at 10% compounded yearly.
Advertisements
Solution
Given: P = Rs. 12,000
n = `1 1/2` years
r = 10%
Formula: S.I. = `[ P xx R xx T ]/100`
= `[ 12,000 xx 10 xx 3/2 ]/100`
= Rs. 1,800
To Calculate C.I. annually
P = Rs. 12,000
n = 1 year
r = 10%
A = `P( 1 + r/100)^n (1 + r/200)^(1/2xx2)`
= `12,000( 1 + 10/100 ) (1 + 10/200)`
= `12000 xx 11/10 xx 21/20`
= 660 × 21
= Rs. 13,860
C.I = 13860 − 12000
= 1860
So Difference between C.I
= C.I − S.I
= 1860 − 1800
= ₹ 60
APPEARS IN
RELATED QUESTIONS
If the interest is compounded half-yearly, calculate the amount when principal is Rs. 7,400; the rate of interest is 5% per annum and the duration is one year.
Find the difference between the compound interest compounded yearly and half-yearly on Rs. 10,000 for 18 months at 10% per annum.
A man borrowed Rs.16,000 for 3 years under the following terms:
20% simple interest for the first 2 years.
20% C.I. for the remaining one year on the amount due after 2 years, the interest being compounded half-yearly.
Find the total amount to be paid at the end of the three years.
What sum of money will amount to Rs. 27,783 in one and a half years at 10% per annum compounded half yearly?
Ashok invests a certain sum of money at 20% per annum, compounded yearly. Geeta invests an equal amount of money at the same rate of interest per annum compounded half-yearly. If Geeta gets Rs. 33 more than Ashok in 18 months, calculate the money invested.
Find the difference between compound interest and simple interest on Rs. 12,000 and in `1 1/2` years at 10% compounded half-yearly.
A man borrows ₹ 4000 at 14% p.a., compound interest, being payable half-yearly. Find the amount he has to pay at the end of 1`(1)/(2)` years.
Calculate the amount and compound interest to the nearest rupee on Rs 42000 for 2 years at 8% per annum, interest being payable half-yearly.
A man borrows Rs.6500 at 10% per annum compound interest payable half-yearly. He repays Rs.2000 at the end of every six months. Calculate the amount outstanding at the end of the third payment. Give your answer to the nearest rupee.
Find the amount and compound interest on Rs.50000 on 1`(1)/(2)` years at 8% p.a. compounded half-yearly.
