Find the difference between the simple interest and compound interest on 12250
On Rs. 6250, the difference between the simple interest and the compound interest at the rate of 8% per annum compounded annually for two years will be:
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Answer (Detailed Solution Below)Option 1 : Rs. 40
Short Trick: Formula: Difference between the compound interest and the simple interest at the rate of R% for 2 years = PR2/1002 P = Principle ∴ Desired difference = 6250 × 82/1002 = Rs. 40 Detailed Solution: According to the given information, Principal, P = Rs. 6250 Rate of interest, R = 8% Time period, T = 2 years We know that, Simple interest, SI = (P × T × R)/100 ⇒ SI = (6250 × 2 × 8)/100 = Rs. 1000 We know the formula for compound interest (CI), \({\rm{CI}} = {\rm{\;P}}\left[ {{\rm{}}{{\left( {1 + \frac{R}{{100}}} \right)}^T} - 1} \right]\) \(\Rightarrow {\rm{CI}} = 6250 × [{\left( {1 + \frac{8}{{100}}} \right)^2} - 1] = 6250 × \left[ {{{\left( {\frac{{27}}{{25}}} \right)}^2} - 1} \right] = Rs.\;1040\) Now, CI - SI = 1040 - 1000 = Rs. 40 ∴ The difference between simple interest and the compound interest = Rs. 40 Ace your Interest preparations for Simple and Compound Both with us and master Quantitative Aptitude for your exams. Learn today!
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RD Sharma Solutions Class 8 Mathematics Solutions for Compound Interest Exercise 14.2 in Chapter 14 - Compound InterestQuestion 36 Compound Interest Exercise 14.2 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. Answer: Given, Time = 2 years Rate = 7.5 % per annum Let principal = Rs P Compound Interest (CI) – Simple Interest (SI) = Rs 360 C.I – S.I = Rs 360 By using the formula, P [(1 + R/100)^n - 1] – (PTR)/100 = 360 P [(1 + 7.5/100)^2 - 1] – (P(2)(7.5))/100 = 360 P[249/1600] – (3P)/20 = 360 249/1600P – 3/20P = 360 (249P-240P)/1600 = 360 9P = 360 × 1600 P = 576000/9 = 64000 ∴ The sum is Rs 64000
Video transcript hello everybody welcome to leader learning my name is rajna chaudhary and we have to write this statement in the equation form it is written that write equation for the statements for these statements so statement is one fourth of a number x minus g minus four gives four so one fourth of a number x would be one fourth of x that mean the value of this part is 1 by 4 of x then we have to minus 4 from it so let's minus 4 from it so minus 4 and gives gives means is equal to 4 so this is the equation for the statement we can write it like that at the place of off we can write multiply then minus 4 is equal to 4. we can also write it like x upon 4 minus 4 is equal to 4. so this is the form of equation for the statement i hope you understand the method see you in my next video don't forget to like comment and subscribe leader learning channel thank you for watching Was This helpful?  |
