Find the difference between the simple interest and compound interest on Rs. 22,000 for 2 years at
6% per annum, compound interest being reckoned semi-annually.
Answers
Answered by
0
Step-by-step explanation:
The difference between the compound interest and the simple interest on Rs.42000 for two years is Rs.105 at the same rate of interest per annum. Find
(i) the rate of interest
(ii) the compound interest earned in second year.
MEDIUM
Help best friend
Study later
ANSWER
P = Rs 42000 T=2 years
Let rate = r %
S.I=
100
PRT
=
100
42000×r×2
=840 Rs
For C.I
A=P(1+
100
r
)
n
=42000(1+
100
r
)
2
=42000(1+
10000
r
2
+
50
r
)
=42000+
10
42r
2
+840r
C.I = A - P
=42000+
10
42r
2
+840r−42000
=
10
42r
2
+840r
Given C.I−S.I=105
=
10
42r
2
+840r−840r=105
=
10
42r
2
=105
=42r
2
=1050
=r
2
=25
r=5%
C.I at 2nd year = 42000(1+
100
5
)
2
−42000
=42000(1.1025−1)=4305 Rs
Similar questions