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Hint: making use of the formula of compound interest. In the given question we are provided Note: For per annum compound interest is calculated for the whole year. But if in a question it was asked for half-yearly too we have to take a time period of 6 months. The calculation should be done properly. It is given that Principal = ₹ 8000 Rate of interest = 5% p.a. We know that Interest for the first year = Prt/100 Substituting the values = (8000 × 5 × 1)/ 100 = ₹ 400 So the amount for the first year or principal for the second year = 8000 + 400 = ₹ 8400 Here Interest for the second year = (8400 × 5 × 1)/ 100 So we get = ₹ 420 We know that Amount after the second year = 8400 + 420 = ₹ 8820 Total compound interest = 8820 + 8000 = ₹ 820 What will be the simple interest on Rs. 8000 at the rate of 6 % per annum for three years ?
Answer (Detailed Solution Below)Option 1 : Rs 1440 Free 20 Questions 20 Marks 25 Mins Given: Principal is Rs. 8000. Rate of interest is 6%. Time is 3 years. Formula: Simple Interest = (Principal × Time × Rate)/100 Calculation: According to the formula, Simple Interest = (8000 × 3 × 6)/100 ⇒ 80 × 3 × 6 ⇒ Rs. 1440 ∴ The simple interest for 3 years is Rs. 1440. Last updated on Sep 27, 2022 The Punjab State Transmission Corporation Limited (PSTCL) released the result for PSTCL JE (Junior Engineer) on 4th September 2021. The candidates can check and download their PSTCL JE Result form here. A total vacancy of 226 was there. The aspirants should go through the PSTCL JE Previous Year Paper and streamline their preparation according to the need of the exam. This is a golden opportunity for candidates who want to get into the Engineering sector in the state of Punjab. Ace your Interest preparations for Simple Interest with us and master Quantitative Aptitude for your exams. Learn today! the question is find the difference between compound interest and simple interest on rupees 8000 into and at 5% per annum Discovery answer questions is that we have to find difference between CI and compound interest and simple interest for now let me first it above to find CI -85 at compound interest and simple interest rate and we have given on rupees 8000 that means we are having the principal amount that is P is equal to 8000 right in two years at a time is two years and at 5% per annum this means the rate is 5% right and we know that the formula for simple interest that is as a is equals to into our into it and just hold a wide 108 ft the values to hear the p8000 into our that is 5 into that is too 2 years / hundred now this 0 this and this use get cancel so here it is 5.2 latest and so we can see that the simple interest is equal to 80 into 10 800 rupees right now let find the compound interest now we know that amount is equals to compound interest + principal value that amount is equal to compound interest and principal value and we also know that amount is equal to 3 to 1 + R by hundred whole raise to power it so from every compare this with this then we can see that vacancy rate of compound interest + principal value is equal to p into 1 + r100 whole raise to power it for now it put the value so compound interest plus PSC FB having the P letter principal amount that is 8000 8002b equals to 8000 into 1 + b having a that is read and write is equals to 5% so 500 old is party and the time is two years old is to power to now just will become 8000 INR to CHF I get cancelled within 120 so it is 21 by 20 whole square right from here we can say that compound interest is equals to 8000 into 2121 whole square divided by 2400 - 8000 8000 Soumya we can clearly see that this 110 get cancelled with this place of you this is 20 and therefore it cancel with 882 it is 20 and 21 square is equal to 440 1441 into 20 - 8008 so every soul this then here will get it as 8820 MI 8000 so we can see that the compound interest here we are having his 820 rupees right and buy it here earlier we get the temple interested in hundred rupees and the compound interested 820 rupees so as the question is to find a - as I so we can see that this is equal to 820 - 820 rupees and hence we can see that this is our final answer that the difference between compound interest and simple interest in this version is 20 rupees thank you What will be the difference between compound interest and simple interest on ₹ 8000 at 5% per annum for 2 years?Amount=P(1+r100)n=8000(1+5100)2=8000×(1+120)2=8000×(2120)2=8000×441400=20×441=8820∴CI=Amount−Principal=8820−8000=820. Q. A person invests Rs. 5,000 for three years at a certain rate of interest compounded annually.
What will be the difference between simple and compound interest on Rs 8000 at the rate of 5 percent per annum at the end of 3 years?The difference of S.I and C.I on a sum at 5% per annum for 3 years is Rs. 36.60.
What is the difference between simple interest and compound interest on a sum of 8000 for 2.4 years?Answer: The difference between the simple interest and compound interest is Rs 80 . sum of Rs 8000 lent at 10% p.a. in 2 years.
What is the difference between compound interest & simple interest on 8000 at 15% per annum for 2 yrs?Hence, the difference between the compound interest and simple interest on Rs. 800 at 15% per annum for 2 years is Rs. 180.
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What is the difference between the compound interest and simple interest on Rupees 8000 at 5% per annum for 2 years?
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