find the difference between the simple interest and compound interest on rs 16000 for 3/2 years at 5% per annum.compound interest being reckoned half yearly.
Answers
Answered by
52
Solution:-
Simple Interest-
Given : P = 16000, R = 5 % and Time = 3/2 years.
Simple Interest = P*R*T/100
= (16000*5*3)/(2*100)
Simple Interest = Rs. 1200
Compound Interest-
P = 16000, R = 2.5 % per half year Because compound interest is being reckoned half yearly and Time 3/2 years or 3 half years.
A = P(1 +r/100)ⁿ
= 16000(1 + 2.5/100)³
= (16000*102.5*102.5*102.5)(100*100*100)
A = Rs. 17230.25
Compound Interest = 17230.25 - 16000 = Rs. 1230.25
So, the difference between the compound interest and simple interest = 1230.25 - 1200 = Rs. 30.25
Answer.
Simple Interest-
Given : P = 16000, R = 5 % and Time = 3/2 years.
Simple Interest = P*R*T/100
= (16000*5*3)/(2*100)
Simple Interest = Rs. 1200
Compound Interest-
P = 16000, R = 2.5 % per half year Because compound interest is being reckoned half yearly and Time 3/2 years or 3 half years.
A = P(1 +r/100)ⁿ
= 16000(1 + 2.5/100)³
= (16000*102.5*102.5*102.5)(100*100*100)
A = Rs. 17230.25
Compound Interest = 17230.25 - 16000 = Rs. 1230.25
So, the difference between the compound interest and simple interest = 1230.25 - 1200 = Rs. 30.25
Answer.
Answered by
6
Answer:
answer is 30.25 ✌✌✌
Similar questions