The simple interest on a certain sum at 4 % p | vedclass

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Question

(B) Given: Simple Interest $(SI)$ = ₹ $80$,Rate $(R)$ = $4 \%$,Time $(T)$ = $2$ years.First,find the principal $(P)$:$SI = \frac{P 	imes R 	imes T}{

Vedclass · Accepted Answer

$81.60$

Vedclass · Answer

(B) Given: Simple Interest $(SI)$ = ₹ $80$,Rate $(R)$ = $4 \%$,Time $(T)$ = $2$ years.First,find the principal $(P)$:$SI = \frac{P 	imes R 	imes T}{100} \Rightarrow 80 = \frac{P 	imes 4 	imes 2}{100} \Rightarrow 80 = \frac{8P}{100} \Rightarrow P = \frac{8000}{8} = ₹ 1000$.Now,calculate the Compound Interest $(CI)$:$CI = P \left(1 + \frac{R}{100}ight)^T - P = 1000 \left(1 + \frac{4}{100}ight)^2 - 1000$$CI = 1000 \left(\frac{104}{100}ight)^2 - 1000 = 1000 	imes (1.04)^2 - 1000$$CI = 1000 	imes 1.0816 - 1000 = 1081.6 - 1000 = ₹ 81.60$.Alternatively,for $2$ years: $CI - SI = \frac{SI 	imes R}{200} = \frac{80 	imes 4}{200} = \frac{320}{200} = ₹ 1.60$.Therefore,$CI = SI + 1.60 = 80 + 1.60 = ₹ 81.60$.

The simple interest on a certain sum at $4 \%$ per annum for $2$ years is ₹ $80$. The compound interest (in ₹) on the same sum for the same period is

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