Advertisements
Advertisements
Question
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.
Advertisements
Solution
P = ₹ 2,500
r = 4% p.a. = `(4)/(2)` = 2% half yearly
T = 2 year = 4 half years
A = P`(1 + r/100)^n`
= ₹ 2,500 `(1 + 2/100)^4`
= ₹ 2,500 `(1 + 1/50)^4`
= ₹ 2,500 `((51)/(50))^4`
= ₹`(2,500 xx 51 xx 51 xx 51 xx 51)/(50 xx 50 xx 50 xx 50)`
= ₹ `(51 xx 51 xx 51 xx 51)/(50 xx 50)`
= ₹ `(2,601 xx 2,601)/(2,500)`
= ₹`(67,65,201)/(2,500)`
= ₹ 2,706·08
C.I. = A - P
= ₹ (2,706·08 - ₹ 2,500)
= ₹ 206·08
and S.I. = `"PRT"/(100) = ₹ (2,500 xx 4 xx 2)/(100)` = ₹ 200
Difference between C.I. and S.I.
= C.I. - S.I.
= ₹ 206·08 - ₹ 200
= ₹ 6·08.
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 Cornpound Interest for the Following, when Cornpounded Annually:
Rs 12,000 for 3 years at 15 % p.a.
Calculate the amount and the compouncl interest of the following:
Rs 9,125 for 2 years if tl1e rates of interest are 12% and 14 % for the successive years.
On what sum will the difference between compound interest and the simple interest for 3 years at 12% be Rs 1,123.20?
The population of a village increases at the rate of 50 per thousand. Its population after 2 years will be 22,050. Find the present population.
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 present population of a town is 1,
0/o per annum 1, 15,200. If it increases at the rate of `6 2/3` % per annum find
Its population 2 years ago.
A machine was purchased 2 years ago. Its value decreases by 10% every year. Its present value is Rs 19,083.60. For how much money was the machine purchased?
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.?
