The difference between simple interest and co | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(B) For a period of $3$ years,the difference $(D)$ between compound interest $(CI)$ and simple interest $(SI)$ is given by the formula: $D = P 	imes

Vedclass · Accepted Answer

$16000$

Vedclass · Answer

(B) For a period of $3$ years,the difference $(D)$ between compound interest $(CI)$ and simple interest $(SI)$ is given by the formula: $D = P 	imes \left(\frac{r}{100}ight)^2 	imes \left(\frac{300+r}{100}ight)$.Given: $D = ₹ 122$,$r = 5 \%$,$t = 3$ years.Substituting the values: $122 = P 	imes \left(\frac{5}{100}ight)^2 	imes \left(\frac{300+5}{100}ight)$.$122 = P 	imes \left(\frac{1}{20}ight)^2 	imes \left(\frac{305}{100}ight)$.$122 = P 	imes \frac{1}{400} 	imes \frac{305}{100}$.$122 = P 	imes \frac{305}{40000}$.$P = \frac{122 	imes 40000}{305}$.$P = \frac{122 	imes 8000}{61}$.$P = 2 	imes 8000 = ₹ 16000$.

The difference between simple interest and compound interest on a certain sum for $3$ years at $5 \%$ per annum is ₹ $122$. Find the sum (in ₹).

Similar Questions

If the compound interest on a certain sum of money for $2$ years at $5 \%$ per annum is ₹ $328$,then the sum (in ₹) is:

If $64000$ is deposited at $5 \%$ compound interest for a period of $18$ months,interest being compounded half-yearly,find the amount.

The difference between the compound and simple interest on a sum of money for $2$ years at $6 \frac{1}{4} \%$ per annum is $Rs. 10$. The sum (in $Rs.$) is

If the difference between $S.I.$ and $C.I.$ is $Rs. 25$ on $10000$ for $2$ years,then what is the rate of interest (in $\%$)?

Sam invested ₹ $15000$ at $10 \%$ per annum for one year. If the interest is compounded half-yearly,then the amount (in ₹) received by Sam at the end of the year will be:

Vedclass Test Series

Exam Paper Generator

Online Exam Module