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get the difference between compound interest and simple interest at the same rate for 8000 from screen.
Find the difference between compound interest and simple interest on Rs. 8000 in 2 years an at 5% per annum.
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Question
Find the difference between compound interest and simple interest on Rs.8000in 2years an at 5% per annum.
We have,
Easy Open in App Solution Verified by Toppr
P=Rs.8000,T=2 years,R=5%
We know that, SI= 100 P×R×T or, SI= 100 8000×5×2 or, SI=Rs.800 We know that, A=CI+P=P(1+ 100 R ) T or, CI+8000=8000(1+ 100 5 ) 2 or, CI+8000=8000(1+ 20 1 ) 2 or, CI+8000=8000( 20 21 ) 2 or, CI+8000=8820 or, CI=Rs.820
Therefore, the required difference
CI−SI=820−800 =Rs.20
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स्रोत : www.toppr.com
Given : Principal = Rs. 8000 Rate = 5% Time = 3 years Concept used : At compound interest, interest = P[1 + (R/100)]t - P
Home Quantitative Aptitude Interest Simple and Compound Both
Question
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The difference between the compound interest and simple interest for 3 years at 5% per annum on 8,000 will be
Rs. 75 Rs. 69 Rs. 55 Rs. 61
Answer (Detailed Solution Below)
Option 4 : Rs. 61
Detailed Solution
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Given :
Principal = Rs. 8000
Rate = 5% Time = 3 years
Concept used :
At compound interest, interest = P[1 + (R/100)]t - P (where p is the principle, R is the rate of interest and t is the time period)
At simple interest , interest = (P × R × T)/100
Calculations :
Principle = 8000
Interest at compound interest = 8000[1 + (5/100)]3 - 8000 (time is 3 years, are of interest is 5%)
⇒ 9261 - 8000 ⇒ 1261 Now,
Simple interest = (8000 × 5 × 3/)100
⇒ 1200
Difference of compound interest and simple interest = 1261 - 1200
⇒ 61 rupees
∴ Option 4 is the correct answer.
Alternate Method
Concept used:
Difference of C.I. and S.I. for 3 years = P(R/100)2((300 + R)/100)
Calculations:
Required difference = P(R/100)2((300 + R)/100)
⇒ 8000 × (5/100)2((300 + 5)/100)
⇒ 8000 × (1/400) × (305/100)
⇒ 8000 × 1/400 × 61/20
⇒ 61
∴ The required difference is Rs. 61.
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स्रोत : testbook.com
Calculate the difference between the compound interest and the simple interest on Rs. 8000 in three years and at 10 % per annum.
Calculate the difference between the compound interest and the simple interest on Rs. 8000 in three years and at 10 % per annum.
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Calculate the difference between the compound interest and the simple interest on Rs. 8000 in three years and at 10 % per annum.
Question
Calculate the difference between the compound interest and the simple interest on Rs. 8000 in three years and at 10% per annum.
Solution
Principal(P)=Rs. 8000
Rate(R)=10% p.a. Period(T)=3 years ∴ S.I for 3 years= P T R 100 = 8000 × 10 × 3 100 =Rs. 2400
Now, S.I. for 1st year =
R s . 8000 × 10 × 1 100 = 80 × 10 × 1
Amount for the first year=P+S.I.
=Rs. 8000 + Rs. 800=Rs. 8800
Principal for the second year= Rs. 8800
Interest for the second year=
8800 × 10 × 1 100 =Rs. 880 ∴
Amount after second year= Rs. 8800 + Rs. 880
=Rs. 9680
Principal for the third year= Rs. 9680
Interest for the third year
= R s . 9680 × 10 × 1 100 = R s . 968 ∴
C.I. for 3 years= Rs. 800+ Rs. 880+Rs. 968
∴
Difference between C.I. and S.I. for 3 years
=Rs. 2648-Rs. 2400 =Rs. 248
MathematicsConcise MathematicsStandard VIII
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