Find the difference between S.I and C.I on Rs. 8,000 for 2 years at
10% p.a.
Answers
Answer:
Step-by-step explanation:
We have Rate of interest = 10% per annum = 5% per half year Time = 1
2
1
years = 3 half year
Original
principal = Rs.8000 Interest for the first half year =
Rs.[
100
8000×5×1
]=Rs.400
Amount at the end of the first half year = Rs.8000 + 400 = Rs. 8400
Principal
for the second half year = Rs.8400 Interest for the second half year =
Rs.(
100
8400×5×1
)=Rs.420
Amount at the end of the second half year = Rs.8400 + Rs.420 = Rs. 8820 Principal for the third half year = Rs.8820
Interest
for the third half year = Rs.(
100
8820×5×1
)=Rs.441 Amount at the end of third half year =
Rs.8820 + Rs.441 = Rs.9261
∴ Compound interest = Rs. 9261 - Rs. 8000 = Rs. 1261
OR
Compound Interest for 3/2 year annually is :P(1+R/100)^T
8000(1+10/100) ^3/2 (3/2=1.5)
8000(11/10)^1.5
=9229.5
CI=9229.5-8000
=1229.5 Rupees
Compound Interest if calculated Semi Annualy=P(1+R/200)^2T
8000(1+10/200)^2×1.5
8000(1+1/20)³
8000(21/20)³
=9261 rupees
CI=9261-8000=1261 rupees
Difference=1261-1229.5= 31.5 Rupees
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Answer:
The difference between the simple interest and compound interest is Rs 80.
Step-by-step explanation:
Formula:
SI = PTR/100
As given,
sum of Rs 8000 lent at 10% p.a. in 2 years.
Put in the above:
SI = 8000 x 2 x 10/ 100
Solving the above
SI = 16000/100
Simple interest = Rs 1600