Question

*Ravi deposited Rs.5100 in a bank for one year at an interest rate of 8 p.c. p.a. How much interest will he get at the end of the year?*

1️⃣ Rs408
2️⃣ Rs804
3️⃣ Rs508
4️⃣ Rs805​

Answer 1

$\underline{\textbf{Given:}}$

$\textsf{Principal=Rs.5100}$

$\textsf{Number of years=1}$

$\mathsf{Rate\;of\;interest=8\%}$

$\underline{\textbf{To find:}}$

$\textsf{The interest at the end of first year}$

$\underline{\textbf{Solution:}}$

$\textsf{For 1 year,}\;\;\mathsf{Compound\;interest=Simple\;interest}$

$\mathsf{Interest=\dfrac{P\,n\,r}{100}}$

$\mathsf{Interest=\dfrac{5100{\times}1{\times}8}{100}}$

$\mathsf{Interest=51{\times}1{\times}8}$

$\implies\boxed{\mathsf{Interest=Rs.408}}$

$\underline{\textbf{Answer:}}$

$\mathsf{Option\;(1)\;is\;correct}$

$\underline{\textbf{Find more:}}$

The compound interest of Rs .12,000 for 4 years at the rate 8%p.a.is more than the simple interest on same amount for 4 years at the  

rate 8% p.a. by Rs_______.  

a) 485.87  

b) 458.75  

c) 487.54  

d) 478.45​

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