find out the difference between the compound intrest and simple intrest for Rs 7500 at the rate of 8percent per annum for 1 year.note the compound interest is calculated every 6 month
Answers
Answer:
Ques 4 Analyze and interpret the following passage in your own words:
There are hundreds of superstitions which survive in various parts of the country and the
study of them is rather amusing. We are told, for example, that it is unlucky to point to the
new moon or to look at it through glass, but if we bow nine times to it we shall have a lucky
month. Now suppose you tell a scientist that you believe a certain superstition - let us say,
that the howling of a dog is a sign of death. The scientist will immediately require evidence
before he can accept your belief. He will want figures to prove it. Your superstition may
impress an ignorant person but it cannot face the light of facts. Your case would not carry
conviction in a court of law. Any intelligent man will want to know the "reason why". What
connection can there be between a howling dog and an approaching death (15)
Answer:
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