Question

find the difference between the compound interest and simple interest on rupees 120000 for 1whole 1upon 2 years at the rate of 4% per annum ​

Answer 1

Step-by-step explanation:

total amount with ci

120000×104/100×104/100

12×104×104

129792

CI=total-given amount

= 129792-120000

= 9792

now si

I=ptr/100

I=120000*2*4/100

=1200*8=9600

difference between CI and SI

9792-9600=192

Answer 2

Difference between compound interest and simple interest is 96 Rs.

Step-by-step explanation:

Given:

• Principal amount (P)=1,20,000.
• Rate of interest (R)=4%
• Time (T)= $1 \frac{1}{2} \: years$

To find:

• Find the difference between the compound interest and simple interest.

Solution:

Formula to be used:

• Formula for total amount while interest is compounded $A= P\left(1 - \frac{R}{100} \right)^{T}$
• CI= A-P
• Simple interest $SI = \frac{PRT}{100}$

Step 1:

Calculate simple interest.

Put the values in the formula of simple interest.

$SI = \frac{120000 \times 4 \times 3}{100 \times 2}$

or

$SI = 1200\times 2 \times 3$

or

$SI = 1200 \times 6$

or

$\bf SI = 7200\:Rs.$

Simple interest is 7200 Rs.

Step 2:

Calculate compound interest.

To calculate compound interest for $1 \frac{1}{2}$ years.

Calculate compound interest for 1 years and calculate simple interest for 1/2 year on total amount (A).

Calculate compound interest for 1 year:

$A = 120000\left( {1 + \frac{4}{100} }\right)^{1}$

or

$A = 120000 \times \frac{104}{100}$

or

$A = 1200 \times 104$

or

$\bf A= 124800\:Rs$

As,

Total amount= Principal amount+ interest.

Compund interest= $124800-120000$

or

Compund interest for 1st year= 4800 Rs

Amount of first year will be principal amount for the second year.

Calculate SI for 1/2 year.

$SI= \frac{124800 \times 4 \times 1}{100 \times 2}$

or

$SI = 1248 \times 2$

or

$\bf SI = 2496\:Rs.$

Total compound interest for 1.5 years is $=4800 + 2496$

or

Total compound interest for 1.5 years is $\bf =7296\:Rs.$

Step 3:

Calculate different between both values.

Simple interest=$7200\:Rs.$

Compound interest $=7296\:Rs.$

Difference $=7296 - 7200$

or

Difference between compund interest and simple interest is 96 Rs.

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