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Efiling Income Tax Returns(ITR) is made easy with ClearTax platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing. CAs, experts and businesses can get GST ready with ClearTax GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. ClearTax can also help you in getting your business registered for Goods & Services Tax Law. Save taxes with ClearTax by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download ClearTax App to file returns from your mobile phone. On what sum of money will the difference between the compound interest and simple interest for 2 years be equal to Rs. 25 if the rate of interest charged for both is 5% p.a.? SolutionC.I = `P[(1 + r/100)^2 - 1] = P[(1 + 5/100)^2 - 1] = "41P"/400` `S.I = (P xx 5 xx 2)/100 = P/100` Given, C.I. - S.I. Rs. 25 `=> "41P"/400 - P/10 = 25` `=> (41P - 40P)/400 = 25` `=> P = 10000` ∴ Required sum = Rs. 10,000 Concept: Concept of Compound Interest - Compound Interest as a Repeated Simple Interest Computation with a Growing Principal Is there an error in this question or solution? APPEARS IN
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On what sum of money will the difference between simple interest and compound interest for 2 years at 5% per annum be equal to ₹ 25?The difference between simple interest and compound interest is Rs. 63. ∴ The required sum of money is Rs. 25200.
On what sum of money will the difference between compound interest and simple interest for 2 years equal to Rs 30 /This is Expert Verified Answer
And based on a two-year compounded interest rate and the rate of %. Hence, the required answer is Rs. 20,000.
What is the difference between simple interest and compound interest for the sum of 2000?What is the difference between Simple Interest and the Compound Interest on $2000 for 2 Years at 10% Per-annum? The difference between the simple interest and the compound interest on $2000 for 1 year at 10% per annum is $20.
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On what sum of money will the difference between compound interest and simple interest for 2 years equal to Rs 30 /
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