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 :-

• What's the difference between the Compound Interest and Simple Interest?

Formula to be used :-

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

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

• Difference = Compound Interest - Simple Interest

Solution :-

At first, we need to find out the value of Simple Interest and Compound Interest.

We know,

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

Now, put the given values

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

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

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

$\therefore$ Simple Interest is = Rs 2100

Again,

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

Substitute the given values

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

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

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

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

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

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

$\therefore$ Compound Interest is = Rs 2247

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Now, find the difference

Difference = Compound Interest - Simple Interest

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

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

Hence,

$\therefore$ Difference between the Compound Interest and Simple Interest is = Rs 147.

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Answer 2

Answer:

same as upside