Advertisements
Advertisements
Question
The difference between the compound interest and simple interest on a certain sum for 2 years at 7.5% per annum is Rs 360. Find the sum.
Advertisements
Solution
Let the sum be P .
Thus, we have:
CI - SI = 360
\[\left[ P \left( 1 + \frac{R}{100} \right)^n - P \right] - \frac{P \times 7 . 5 \times 2}{100} = 360\]
\[P\left[ \left( 1 + \frac{7 . 5}{100} \right)^2 - 1 \right] - \frac{P \times 7 . 5 \times 2}{100} = 360\]
\[P\left[ 1 . 155625 - 1 \right] - \] 0.15P= 3600.155625P - 0.15P=3600.005625P= 360p=`360/0.005625P` = 64000
Thus, the required sum is Rs. 64.
APPEARS IN
RELATED QUESTIONS
A sum is invested at compound interest, compounded yearly. If the interest for two successive years is Rs. 5,700 and Rs. 7,410. calculate the rate of interest.
A certain sum of money is put at compound interest, compounded half-yearly. If the interest for two successive half-years are Rs. 650 and Rs. 760.50; find the rate of interest.
A certain sum amounts to Rs. 5,292 in two years and Rs. 5,556.60 in three years, interest being compounded annually. Find : the rate of interest.
The cost of a machine depreciated by Rs. 4,000 during the first year and by Rs. 3,600 during the second year. Calculate :
- The rate of depreciation.
- The original cost of the machine.
- Its cost at the end of the third year.
Find the sum, invested at 10% compounded annually, on which the interest for the third year exceeds the interest of the first year by Rs. 252.
A man borrows Rs.10,000 at 10% compound interest compounded yearly. At the end of each year, he pays back 30% of the sum borrowed. How much money is left unpaid just after the second year ?
Rekha borrowed Rs. 40,000 for 3 years at 10% per annum compound interest. Calculate the interest paid by her for the second year.
Rohit borrowed ₹ 40,000 for 2 years at 10% per annum C.I. and Manish borrowed the same sum for the same time at 10.5% per annum simple interest. Which of these two gets less interest and by how much?
Suppose for the principal P, rate R% and time T, the simple interest is S and compound interest is C. Consider the possibilities.
- C > S
- C = S
- C < S
Then
