Question

The difference between the compound interest for 2 years at 10% p.a is Rs 120. Find the principal.

Please answer fast............
With explanation...​

Answer 1

Answer:Rs.24.81

Step-by-step explanation:

8th

Maths

Comparing Quantities

Compound Interest

The difference between comp...

MATHS

The difference between compound interest and simple interest on a sum of 2 years at 10% per annum, when the interest is compounded annually is Rs. 16. If the interest were compounded half yearly, the difference in two interests would be

MEDIUM

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ANSWER

For first year, S.I. = C.I.

Now, Rs. 16 is the S.I. on S.I. for 1 year.

∴ Rs. 10 is S.I. on Rs. 100

∴ Rs. 16 is S.I. on (

10

100

​

×16)=Rs.160

∴ S.I. on principal for 1 year at 10% is Rs. 160.

∴ principal =(

10×1

100×160

​

)=Rs.1600.

Amount for 2 years compounded half yearly

=Rs.[1600×(1+

100

5

​

)

4

]=Rs.1944.81

∴C.I.Rs.(1944.81−1600)=Rs.344.81

S.I.=Rs.(

100

1600×10×2

​

)=Rs.320

∴(C.I.)−(S.I.)=Rs.(344.81−320)=Rs.24.81

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Answer 2

Step-by-step explanation:

between which the difference is 120

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