Question

Find the difference between compound interest and simple Interest at Rs.50,000 for 2 years at 10 %

Answer 1

Answer:

Rs 500

Step-by-step explanation:

Difference between CL and SL =10500-10000=500

Answer 2

Answer:

• Principal = Rs. 50,000
• Time = 2 years
• Rate = 10% per annum
• Difference b/w CI and SI = ?

$\underline{\bigstar\:\textsf{According to the given Question :}}$

$\dashrightarrow\sf Difference=Principal \times \bigg\lgroup\dfrac{Rate}{100}\bigg\rgroup^2\\\\\\\dashrightarrow\sf Difference=50000 \times \bigg\lgroup\dfrac{10}{100}\bigg\rgroup^2\\\\\\\dashrightarrow\sf Difference=50000 \times \dfrac{10}{100} \times \dfrac{10}{100}\\\\\\\dashrightarrow\sf Difference = 5 \times 10 \times 10\\\\\\\dashrightarrow\sf Difference = Rs.\:500$

⠀

$\therefore\:\underline{\textsf{Difference b/w CI and SI for 2 years is \textbf{Rs. 500}}}$

$\rule{200}{1}$

Likewise

When Principal and Rate are Same for both Compound Interest and Simple Interest and Time is 2 years. Then Difference can be calculated using :

$\star\:\:\sf Difference=Principal \bigg\lgroup\dfrac{Rate}{100}\bigg\rgroup^2$

⠀

When Principal and Rate are Same for both Compound Interest and Simple Interest and Time is 3 years. Then Difference can be calculated using :

$\star\:\:\sf Difference=Principal \bigg\lgroup\dfrac{Rate}{100}\bigg\rgroup^2\bigg\lgroup\dfrac{300+Rate}{100}\bigg\rgroup$