Question

Find the
difference between simple interest and compound interest on ? 2400 for 2 years at 5% per
annum compounded annually.

Answer 1

Answer:

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Answer 2

..Question..

Find the difference between the Simple Interest and Compound Interest on Rs 2400 for 2 years and 5% per annum when Compounded annually.

..Answer..

Given ,

ㅤㅤㅤㅤ➪ Principle = Rs 2400

ㅤㅤㅤㅤ➪ Time = 2 years

ㅤㅤㅤㅤ➪ Rate = 5%

•°• At first

➪ S.I. = ( P × T × R ) / 100

➪ S.I. = ( 2400 × 2 × 5 ) / 100

➪ S.I. = 24 × 2 × 5

➪ S.I. = 24 × 10

➪ S.I. = 240

Now ,

➪ C.I. = P ( 1 + R/100 )^t

➪ C.I. = 2400 ( 1 + 5/100 )²

➪ C.I. = 2400 ( 1 + 1/20 )²

➪ C.I. = 2400 ( 1/1 + 1/20 )²

➪ C.I. = 2400 ( ( 20 + 1 )/20 )²

➪ C.I. = 2400 ( 21/20 )²

➪ C.I. = 2400 × 21/20 × 21/20

➪ C.I. = 24 × 21/2 × 21/2

➪ C.I. = 6 × 21 × 21

➪ C.I. = 2646

•°• C.I. - S.I.

➪ 2646 - 240

➪ 2406

•°• difference of the Compound Interest and Simple Interest is = Rs 2406

ㅤㅤㅤ꧁ ʙʀᴀɪɴʟʏ×ᴋɪᴋɪ ꧂

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