Question

4 Find the difference between compound interest and simple interest on a sum of 64,000 at the rates
20% p.a. compounded semi-annually for 11 years.



please jaldi batao ​

Answer 1

Step-by-step explanation:

Given , sum (p) =Rs 64,000

rate = 20 % p.a , time (t) = 1 and half yr

=(1 + 1/2) yr = 3/2 yr

step 1 Find simple interest (S.I):

S.I= p x x t100

=64000 x 20 × 3 /2/ 100

=64000 x 60 /200

=Rs 19200

step 2 Find compound interest:

sum (p) = 64,000 R = 20 / 2 = 10 % half yearly

Time = 1 and half year = 3 half year

Amount = p (1 +R /100 )^T

=64,000 (1 + 10 /100 )^3

=64000 (1+1/10 )^3

=64000 x 11/10 x 11/10 x 11 /10

=64 x 11 x 11 x 11 = Rs 85,184

Compound interest( C.I) = amount - sum( p )

C.I = 85,184 - 64,000 = Rs 21,184

difference between compound interest and simple interest = C.I - S.I

=Rs 21,184 - Rs 19200 = Rs 1984

therefore required difference between

C.I and S.I = Rs 1984

Your Answer: Rs 1984