Question

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By What Percent is the yearly compound interest on Rs. 2000 for 3 years at 10% p.a. than simple interest on Rs. 3000 for 2 years at 8% p.a.? Find it.

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Answer 1

Find Compound  Interest:-

P = Rs. 2000

n = 3 years

r = 10 % p.a.

We know that ,

$A=P(1+\frac{r}{100})^{n}\\ \\\\A=2000(1+\frac{10}{100})^{3}\\\\A=2000(\frac{11}{10})^{3}\\ \\A=2000\times\frac{11}{10}\times\frac{11}{10}\times\frac{11}{10}\\\\A=R.s.\;2662$

Compound  Interest = A - P

                                  = 2662 - 2000

                                  = R.s. 662

Find  Simple  Interest:-

Principle = R.s. 3000

Time = 2 years

rate = 8% p.a.

$S.I.=\frac{Principle\times\;rate\times\;time}{100}\\\\=\frac{3000\times8\times2}{100}\\\\=R.s.\;480$

Difference  between C.I. and  S.I. = 662 - 480 =  R.s.182

% of   exceed amount  with  respect  to S.I. = (182/480)×100

                                                                        = 37.9166 %

Answer 2

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