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Solution Principal (P)=Rs. 5000 (adsbygoogle = window.adsbygoogle || []).push({}); Rate (R)= 9% p.a.Time (n)=2 years∴ S.I=P×R×T100=5000×9×2100=Rs.900 (adsbygoogle = window.adsbygoogle || []).push({}); Now, Amount at C.I=P(1+R100)n=Rs.5000(1+9100)2=Rs. 5000×109100×109100 (adsbygoogle = window.adsbygoogle || []).push({}); = Rs. 118812=Rs.5940.50∴C.I=A−P= Rs.5940.50−Rs. 5000=Rs. 5940.50−5000=Rs.940.50 (adsbygoogle = window.adsbygoogle || []).push({}); ∴ Difference between C.I. and S.I= Rs.940.50−Rs. 900=Rs.40.50What is the compound interest on Rupees 5000?Therefore, the compound interest is Rs. 624.32 on Rs. 5000 if it is compounded half yearly for 1 year 6 months at 8 % per annum.
What is the difference between simple and compound interest Class 8?The major difference between simple interest and compound interest is that simple interest is based on principal amount whereas compound interest is based on the principal amount and the interest compounded for a cycle of the period.
What is the difference between simple and compound interest on Rupees 1000?Answer: Principal sum = ₹1000, interest rate = 10%p.a. , time= 4yrs. Simple interest= P.R.T/100 = 1000×10×4/100 = 400. Compound interest= P{1+ R/100}™ - P =1000{1+10/1000}^4-1000 = 1464.1 - 1000 = 464.1 Thus difference in interests= 464.1 - 400 = ₹64.1.
What is the difference between the compound interest and simple interest on Rupees 8000 at 5% per annum for 2 years?Amount=P(1+r100)n=8000(1+5100)2=8000×(1+120)2=8000×(2120)2=8000×441400=20×441=8820∴CI=Amount−Principal=8820−8000=820.
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The difference between compound interest and simple interest at the same rate for 5000
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