Question

seema invested rs.6400 for 3 years at the rate of 10%per annum compound annually.Sonali invested the same amount at the same rate for the same time. But on simple interest who gets more interest and by how much?

Answer 1

Principal = Rs 6400Time = 3 yearsRate of Interest = 10% Amount seema got after 3 years at Compound Interest = P(1+R100)T= 6400 (1+10100)3= 6400 (1110)3= 6400×1110×1110×1110= 64×11×11×1110= Rs 8518.40Interest earned by Seema = 8518.40−6400 = Rs 2118.40Simple Interest earned by sonali = p×r×t100= 6400×10×3100= 64×10×3= Rs 1920Seema get more interest by (2118.40−1920) = 198.40 rupees.

Hope this information will clear your doubts about topic.

Answer 2

Solutions :-

Some of the abbreviations used in this solution are :-

Principle = p
Time = t
Rate = r
Simple Interest = S.I
Compound Interest = C.I
Amount = A


For Seema,

Given :
p = Rs 6400
t = 3 years
r = 10% p.a

Find the Amount by using Compound Interest formula :-

A = p (1 + r)^t
= Rs 6400 (1 + 10%)³
= Rs 6400 (1 + 0.10)³
= Rs 6400 (1.10)³
= Rs 6400 × 1.331
= Rs 8518.4

Now,
For Sonali

Given :
p = Rs 6400
t = 3 years
r = 10% p.a

Find the Simple Interest :-

S.I = (p × r × t)/100
= Rs (6400 × 3 × 10)/100
= Rs 192000/100
= Rs 1920

Find the Amount :-

A = p + S.I
= Rs (6400 + 1920)
= Rs 8320


Here,
Total amount of Seema = Rs 8518.4
Total amount of Sonali = Rs 8320

Amount of Seema is greater than the amount of Sonali.

= Rs (8518.4 - 8320)
= Rs 198.4


Hence,
Seema get more interest by Rs 198.4