Question

Sudhir lent2000 at compound interest at TO% payable yearly, while Prashant lent 2000 at compound interest at 10% payable half-yearly. Find the difference in the interest received by Sudhir and Prashant at the end of one year.​

Answer 1

Step-by-step explanation:

Given:

(i) Sudhir lent 2000 Rupees at compound interest at 10% payable yearly.

(ii) Prashant lent 2000 Rupees at compound interest at 10 percent payable half yearly.

To find:

(i) The difference in the interest received by Sudhir and Prashant at the end of one year.

Solution:

We know,

Amount (A) in Cl is given as:

A = P(1 + r/n)^(nt)

P is the Principal money

R is the rate percentage

t is time period

n is number of times interest is

compounded per unit t

For Sudhir,

A = 2000(1 + 0.10)^1

= 2000(1.1)

= Rs 2200

CI = A-P

= Rs (2200-2000)

= Rs 200

For Prashant,

A = 2000(1 + 0.10/2)^(1*2) = 2000(1.05)^2

= Rs 2205

CI= A-P

= Rs (2205-2000)

= Rs 205

Difference in interests = Rs 205- Rs 200

= Rs 5

Rs 5 is the answer.

Answer 2

4000 is correct answer