The difference between simple interest and co | vedclass

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

Question

(A) Let the principal sum be $P$.For $2$ years,the simple interest $(SI)$ is given by $SI = \frac{P 	imes R 	imes T}{100} = \frac{P 	imes 4 	imes

Vedclass · Accepted Answer

$625$

Vedclass · Answer

(A) Let the principal sum be $P$.For $2$ years,the simple interest $(SI)$ is given by $SI = \frac{P 	imes R 	imes T}{100} = \frac{P 	imes 4 	imes 2}{100} = \frac{8P}{100} = 0.08P$.The compound interest $(CI)$ compounded annually is given by $CI = P \left(1 + \frac{R}{100}ight)^T - P = P \left(1 + \frac{4}{100}ight)^2 - P = P \left(1.04^2 - 1ight) = P(1.0816 - 1) = 0.0816P$.The difference between $CI$ and $SI$ is given as ₹ $1$.$0.0816P - 0.08P = 1$$0.0016P = 1$$P = \frac{1}{0.0016} = \frac{10000}{16} = 625$.Thus,the sum is ₹ $625$.

The difference between simple interest and compound interest compounded annually on a certain sum of money for $2$ years at $4 \%$ per annum is ₹ $1$. The sum (in ₹) is

Similar Questions

$A$ sum of money amounts to ₹ $6655$ at the rate of $10 \%$ compounded annually for $3$ years. The sum of money is (in ₹):

Which of the statements given below are sufficient to answer the following question?
What is the rate of interest $p.c.p.a.$ on the amount of $Rs. 15000$ taken as a loan?
$(I)$ The difference between $C.I.$ and $S.I.$ for $2$ years is $Rs. 170$.
$(II)$ The $S.I.$ for $2$ years is $Rs. 2500$.

If the compound interest on a certain sum for $3$ years at $5 \%$ p.a. exceeds the simple interest on the same sum for the same time and at the same rate by $Rs. 183$,find the sum (in $Rs.$).

$A$ bank offers $5 \%$ compound interest calculated on a half-yearly basis. $A$ customer deposits ₹ $1600$ each on $1^{st}$ January and $1^{st}$ July of a year. At the end of the year,the amount (in ₹) he would have gained by way of interest is

If the difference between the $C.I.$ compounded half-yearly and simple interest on a sum at $10 \%$ per annum for one year is $Rs. 25$,the sum (in $Rs.$) is:

Vedclass Test Series

Exam Paper Generator

Online Exam Module