Advertisements
Advertisements
Question
The difference in simple interest and compound interest on a certain sum of money at \[6\frac{2}{3} %\] per annum for 3 years is Rs 46. Determine the sum.
Advertisements
Solution
Given:
CI - SI = 46
\[P\left[ \left( 1 + \frac{R}{100} \right)^n - 1 \right] - \frac{PRT}{100} = 46\]
\[P\left[ \left( 1 + \frac{20}{300} \right)^3 - 1 \right] - \frac{P \times 20 \times 3}{3 \times 100} = 46\]
\[\frac{4, 096}{3, 375}P - \frac{P}{5} - P = 46\]
\[\frac{(4, 096 - 3, 375 - 675)P}{3, 375} = 46\]
\[P = 46 \times \frac{3, 375}{46}\]
\[ = 3, 375\]
Thus, the required sum is Rs 3, 375 .
RELATED QUESTIONS
What will Rs 125000 amount to at the rate of 6%, if the interest is calculated after every 3 months?
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.
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.
What sum will amount of Rs. 6,593.40 in 2 years at C.I. , if the rates are 10 per cent and 11 per cent for the two successive years ?
Saurabh invests Rs. 48,000 for 7 years at 10% per annum compound interest. Calculate:
(i) the interest for the first year.
(ii) the amount at the end of second year.
(iii) the interest for the third year.
Calculate the difference between the compound interest and the simple interest on ₹ 7,500 in two years and at 8% per annum.
Calculate the difference between the compound interest and the simple interest on ₹ 8,000 in three years and at 10% per annum.
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?
Mr. Sharma lends ₹24,000 at 13% p.a. simple interest and an equal sum at 12% p.a. compound interest. Find the total interest earned by Mr. Sharma in 2 years.
The compound interest payable annually on a certain sum for 2 years is Rs 40.80 and the simple interest is Rs 40. Find the sum and the rate percent.
