Question

find the difference between compound interest and simple interest of rupees 7500 at 14% for annum for 2 years​

Answer 1

Given :

• Principal(P) = Rs 7500

• Rate(R) = 14%

• Time(T) = 2 years

To Find :

• Difference between the Compound Interest and Simple Intrest

Solution :

Let's Find Simple Interest First :

We know that,

$\bigstar \: \large \: \boxed{ \sf \: SI = \frac{P \times R \times T}{100} }$

$\longrightarrow \sf \: \dfrac{7500 \times 14 \times 2}{100}$

$\longrightarrow \sf \cancel \dfrac{210000}{100}$

$\longrightarrow \sf \red{Rs \: 2100}$

$\therefore$ Simple Interest is Rs 2100

Let's Find Compound Interest Now :

We know that,

$\bigstar \: \: \large \boxed{ \sf C.I. = P (1 + \frac{r}{100}) ^{t}\: - P}$

$\longrightarrow \sf \: 7500(1 + \dfrac{14}{100}) ^{2}- 7500$

$\longrightarrow \sf \: 7500(\dfrac{100 + 14}{100}) ^{2} - 7500$

$\longrightarrow \sf \: 7500 \times \dfrac{114}{100} \times \dfrac{114}{100} - 7500$

$\longrightarrow \sf \cancel \dfrac{97470000}{10000}-7500$

$\longrightarrow \sf Rs \: 9747 - 7500$

$\longrightarrow \sf \red{Rs \: 2247}$

$\therefore$ Compound Interest is Rs 2247

Let's find the difference now :

$\bigstar \: \boxed{ \sf \: Difference = Compound \: Interest - Simple \: Interest}$

$\longrightarrow \sf Rs \: 2247 - Rs \: 2100$

$\longrightarrow \sf \red{Rs \: 147}$

$\therefore$ Difference between the CI and SI is Rs 147

Answer 2

Step-by-step explanation:

CI = P= 7500

R= 14%

T= 2 yrs

A = P ( 1 +r/100)^t

A = 7500 (1+14/100)^2

= 7500 (1+7/50)^2

= 7500 × 57/50 × 57/50

A = 9747

CI= A-P

= 9747- 7500

= 2247

SI = P×R×T/100

= 7500×14×2/100

= 2100

Difference between CI AND SI = CI - SI

= 2247 - 2100 = 147

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