The difference between the compound interest | vedclass

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

Question

(D) Let the rate of interest be $R \%$ per annum.The formula for the difference between compound interest $(C.I.)$ and simple interest $(S.I.)$ for $2

Vedclass · Accepted Answer

$15$

Vedclass · Answer

(D) Let the rate of interest be $R \%$ per annum.The formula for the difference between compound interest $(C.I.)$ and simple interest $(S.I.)$ for $2$ years is given by:Difference $= P 	imes \left(\frac{R}{100}ight)^2$Given:Principal $(P)$ $= ₹ 18000$Difference $= ₹ 405$Time $(T)$ $= 2$ yearsSubstituting the values into the formula:$405 = 18000 	imes \left(\frac{R}{100}ight)^2$$\left(\frac{R}{100}ight)^2 = \frac{405}{18000}$$\left(\frac{R}{100}ight)^2 = \frac{81}{3600}$Taking the square root on both sides:$\frac{R}{100} = \sqrt{\frac{81}{3600}}$$\frac{R}{100} = \frac{9}{60}$$R = \frac{9}{60} 	imes 100$$R = 15$Therefore,the rate of interest is $15 \%$ per annum.

The difference between the compound interest and the simple interest accrued on an amount of ₹ $18000$ in $2$ years was ₹ $405$. What was the rate of interest per cent per annum?

Similar Questions

$A$ sum put out at $4 \%$ compound interest payable half-yearly amounts to ₹ $6632.55$ in $1 \frac{1}{2}$ years. The sum (in ₹) is

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 ₹).

The compound interest on ₹ $4000$ for $4$ years at $10 \%$ per annum will be (in ₹):

The principal that amounts to ₹ $4913$ in $3$ years at $6 \frac{1}{4} \%$ per annum compound interest compounded annually (in ₹) is:

There is a $60 \%$ increase in an amount in $6$ years at simple interest. What will be the compound interest (in ₹) of ₹ $12000$ after $3$ years at the same rate?

Vedclass Test Series

Exam Paper Generator

Online Exam Module