Question

A sum of Rs. 8,000 is deposited for 3 years at 5% per annum compound interest (compounded annually). The difference of interest for 3 years and 2 years will be
A) Rs. 387
B) Rs. 441
C) Rs. 469
D) Rs. 503

Answer 1

$\textbf{\huge{ANSWER}}$

Option (B) 441 is the Right Answer ✔️

SOLUTION :-

Given principal amount = Rs. 8000

Time = 3yrs

Rate = 5%

C.I for 3 yrs = 8000 x 105100 x 105100 x 105100 − 8000= Rs. 12618000 x 105100 x 105100 x 105100 - 8000= Rs. 1261

 Now, C.I for 2 yrs = 8000 x 105100 x 105100= Rs. 820 8000 x 105100 x 105100= Rs. 820 

 Hence, the required difference in C.I is 1261 - 820 = Rs. 441

Answer 2

Answer:   B) Rs. 441 



Given principal amount = Rs. 8000

Time = 3yrs

Rate = 5%

C.I for 3 yrs = 8000 x 105100 x 105100 x 105100 − 8000= Rs. 12618000 x 105100 x 105100 x 105100 - 8000= Rs. 1261

Now, C.I for 2 yrs = 8000 x 105100 x 105100= Rs. 820 8000 x 105100 x 105100= Rs. 820 

Hence, the required difference in C.I is 1261 - 820 = Rs. 441