Question

Calculate the difference between the
compound interest and the simple interest on
7500 in two years and at 8% per annum​

Answer 1

P = Rs. 7500, R = 8% p. a., N = 2 years

Compound interest = P(1 + R)n - P
= P[(1 + R)n - 1]
= 7500 (1.082 - 1)
= Rs. 1248

Simple interest = PNR/100
= 7500 × 8 × 2/100
= Rs. 1200
Difference = 1248 - 1200 = Rs. 48


































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Answer 2

$\sf{Answer}$

➪The difference between the compound interest and simple interest is 12.

$\sf{Full \: Solution}$

★ Given :-

➙Principal = Rs 7,500

➙Rate = 8 % (yearly)

➙Rate = 4 % (In 6 month)

➙Time = 1 year = 2 (six month)

Simple interest in 1 year

$\sf{= > \frac{p \times r \times t}{100} = > \frac{7500 \times 8 \times 1}{100} = > 600 \: rupees}$

Interest in 1st six month

$\sf{= > \frac{p \times r \times t}{100} = > \frac{7500 \times 4 \times 1}{100} = > 300 \: rupees}$

New Principal amount

$\sf{=> 7,500+300=7,800 Rs}$

Interest in 1st six month

$\sf{= > \frac{7800 \times 4 \times 1}{100} = > 312 \: rupees}$

Compound interest = 300+312= Rs.612

The difference between the compound interest and simple interest = $\bold{612-600=12}$