I borrowed Rs 12,000 from Jamshed at 6% per annum simple interest for 2 years. Had I borrowed this sum at 6% per annum compound interest, what extra amount would I have to pay? Show  1594 Views Find the buying price of each of the following when 5% ST is added on the purchase of (a) A towel at Rs 50 (b) Two bars of soap at Rs 35 each (c) 5 kg of flour at Rs 15 per kg 925 Views A milkman sold two of his buffaloes for Rs 20,000 each. On one he made a gain of 5% and on the other a loss of 10%. Find his overall gain or loss.(Hint: Find CP of each.) 192 Views A shopkeeper bought two TV sets at Rs 10,000 each. He sold one at a profit 10% and the other at a loss of 10%. Find whether he made an overall profit or loss. 1238 Views Kamala borrowed Rs 26,400 from a Bank to buy a scooter at a rate of 15% p.a. compounded yearly. What amount will she pay at the end of 2 years and 4 months to clear the loan? (Hint: Find A for 2 years with interest is compounded yearly and then find SI an the 2nd year for 4/12 tears.) Here, we shall calculate the amount for 2 years using the CI formula. Then this amount will become the principal for next 4 months, i.e. 4/12 years. 119 Views Calculate the amount and compound interest on: (a) Rs 10,800 for 3 years at 121/2 % per annum compounded annually. (b) Rs 18,000 for 21/2 years at 10% per annum compounded annually. (c) Rs 62,500 for 11/2 years at 8% per annum compounded half yearly (d) Rs 8,000 for 1 year at 9% per annum compounded half yearly. (You could use the year by year calculation using SI formula to verify.) (e) Rs 10,000 for 1 year at 8% per annum compounded half yearly. 1355 Views Solution: Here, Principal (P) = Rs.12,000, Time (T) = 2 years, Rate of interest (R) = 6% p.a. Simple Interest = \frac{P\times R\times T}{100}=\ \frac{12000\times6\times2}{100}=Rs.\ 1440 Had he borrowed this sum of 6% p.a., then Compound interest = P\left(1+\frac{R}{100}\right)^n-P = 12000\left(1+\frac{6}{100}\right)^2-12000 = 12000\left(1+\frac{3}{50}\right)^2-12000 = 12000\left(\frac{53}{50}\right)-12000 = 12000\times\frac{53}{50}\times\frac{53}{50}-12000 = Rs. 13,483.20 – Rs. 12,000 = Rs. 1,483.20 Difference in both interests = Rs. 1,483.20 – Rs. 1,440.00 = Rs. 43.20 the given question says that I borrowed rupees 12000 from Jamshed at 6% per annum simple interest for 2 years had a borrowed this sum at 6% per annum compound interest what extra amount would have to pay send this question we are supposed to find out the simple interest on rupees 12000 at the rate of 6% for 2 years then we will find the compound interest for the same rate and for the same time period on the same principle and then we will find out the difference between compound interest and simple interest because we know that for the same time period and say on the same principle at the same rate of interest compound interest is always greater than simple interest and we're supposed to find the difference so let's do this question was able will write on what has been given the question we are given the principal as 12000 the rate of interest is equals to 6% and the time is 2 years first of all we will find out the simple interest so let's do it the formula that we are going to use for simple interest is Si simple interest is equals to principal x rate x x divided by 100 putting in the values of p r and T will get Si that is simple interest is equal to principal is 12000 x rate is 6 x x 2 / 100 on simplifying it will get 120 x 12 which will be equal to 1440 this is the simple interest now we find out the compound interest in the formula for compound interest for for compounded first of all you will find out the amount and the formula for amount is a is equals to principal P X 1 + rate are divided by 100 raise to the power T now where time is 2 years and rate of interest 6 piece 2014 in the values we will get a s amount amount is equals to 12000 12000 oneplus the rate of interest is 6 / 100 raised to the power to 9 simplifying it will get 12000 x 106 divided by 100 x 106 divided by 100 amount will be equal to amount will be equal to 13 13483 point 21 simplifying it will get 13000 400 83.2 this is the amount now we're supposed to find out the compound interest in the formula for compound interest is CI is equals to C is equals to amount minus principal so the principal is the principal is 10000 and the amount is 13450.2 supporting in the values will get 13483 Point 2 - 12000 which will be equal to 14 83.2 this is the compound interest now we knew that compound interest will be more than simple interest now we we will we will have to find out by how much so the extra amount is we have to find out this is what has been asked in the questions for extra amount will be equal to compound interest minus simple interest and compound interest is 1483 point 2 - simple interest is 1440 1440 which will be equal to 43.2 and this is our answer thank you What is the simple interest on Rs 12000 at 6% per annum for 2 years?Difference between compound interest ₹ 1,483.20 and the corresponding simple interest is ₹ 1,440.00 is ₹ 43.20. I borrowed Rs 12,000 from Jamshed at 6% per annum simple interest for 2 years.
How do you find the sum of compound interest?CI = A – P
Here, A represents the new principal sum or the total amount of money after compounding period. P represents the original amount or initial amount. r is the annual interest rate.
How do you calculate simple interest example?For example, say you invest $100 (the principal) at a 5% annual rate for one year. The simple interest calculation is: $100 x . 05 interest x 1 year = $5 simple interest earned after one year.
What is the sum of interest?Simple interest is a method to calculate the amount of interest charged on a sum at a given rate and for a given period of time.
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Simple Interest Example:. |
Had I borrowed this sum at 6% per annum compound interest what extra amount would I have to pay?
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