Question

the difference between compound interest and simple interest on ₹5812 for the same year at the rate of 8.5% is ₹26 find the time Si and CI principal rate

Answer 1

Find the difference between compound and simple interest on a sum of ₹12000 at therate of 12% p.a. for 2 years ( compounded annually )


Answers


Principal- Rs.12000
Rate-12%
time-2 years

1.) amount- princiapal(1+rate/100)^t
A= 12000(1+12/100)^2
A= 12000(112/100)^2
A= 12000(28/25)^2
A=  12000*784/625
A=  Rs.15052.8

CI-  15052.8-12000  =  Rs.3052.8

2.) Simple interest= principal*rate*time/100
SI=  12000*12*2/100
SI=  Rs.2880

3.) Difference-) CI-SI
    = 3052.8-2880
      =Rs.172.8