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RD Sharma Solutions Class 8 Mathematics Solutions for Compound Interest Exercise 14.1 in Chapter 14 - Compound InterestQuestion 10 Compound Interest Exercise 14.1 Find the compound interest at the rate of 10% per annum for two years on that principal which in two years at the rate of 10% per annum given Rs. 200 as simple interest. Answer: Given details are, Simple interest (SI) = Rs 200 Rate (r) = 10 % Time = 2 years So, by using the formula, Simple interest = P×T×R/100 P = (SI × 100)/ T×R = (200 × 100) / 2 × 10 = 20000/20 = Rs 1000 Now, Rate of compound interest = 10% Time = 2years By using the formula, A = P (1 + R/100)^n = 1000 (1 + 10/100)^2 = 1000 (110/100)^2 = Rs 1210 ∴ Compound Interest = A – P = Rs 1210 – Rs 1000 = Rs 210
Video transcript "hello students welcome to lido's question and answer classroom my name is shaisa firozi class and today we are going to find out the compound interest so let's quickly see the question the question says find the compound interest okay so here you can understand that you have to find out the compound interest at the rate of 10 percent so your rate is 10 percent per annum for two years okay so your time period is two years on that principle which in two years at the rate of ten percent per annum given rupees 200 as simple interest so you can see here that rupees 2 and 200 is our simple interest so let's quickly jot down the details whatever is given to us so simple interest is rupees 200 our rate of interest is r which is equals to 10 percent i'll just wrap this okay so this is my 10 percent rate of interest then i have time which is two years so now since you know that simple interest is given now we have to take the relation of simple interest so by using the formula of simple interest we are going to quickly find out the principle because we don't have the principle and we require principle for compound interest so i am going to find out i'm using the formula of simple interest which is nothing but principle into rate of interest into time upon hundred so let's quickly write down simple interest is rupees 200. principle we don't know we need to find out principle rate of interest is 10 time is 2 divided by 100 so we are going to transpose 200 in 200 upon 10 into 2 and principle on one side okay so i have transpose 100 to 210 and 2 to the denominator after calculation i am going to get my principle as rupees thousand okay so that's clear from here you got principal as rupees thousand so now you can take the principal amount and you can start with finding the compound interest now you know that compound interest formula is equals to amount minus principle okay now as you can see the formula for compound interest that for compound interest we require amount and principle we have got a principal amount but we don't have amount okay we have got principal but we don't have amount so first of all we are going to find out the amount so let's find out the amount by using the formula for amount so my amount is equals to p 1 plus r that is rate of interest upon 100 raised to n that is time period so my principle is thousand one plus my rate of interest is ten upon hundred raised to n that is the time period which is for two years so i get thousand 100 plus 10 upon 100 raised to 2. you can clearly understand that i have taken an lcm for this whole bracket because your the denominator is nothing but your it is 100 so taking an lcm 100 i have written this as 100 plus 10 upon 100 so on solving this i will get 1000 into 110 upon 100 raised to 2 which on solving the whole problem when i solve i will get rupees 1000 so i'll get rupees one thousand [Music] two hundred and ten so i got my amount as rupees one thousand two hundred and ten now since i have received my amount i can substitute my value of amount over here i have already got my principle so i will substitute the principal value over here and i can quickly find out the compound interest so let's quickly find out the compound interest so compound interest is equal to amount minus principle my amount i got as 1000 to 1210 minus 1000 which is my principle and therefore my compound interest on subtracting will give me rupees 200 and so you can see here that we have got the compound interest which is rupees 210 okay so all right that's our answer so subscribe to lido for more updates and do comment waiting for your comment hope you have all understood see you all next time thank you bye take care" Was This helpful?
What is the difference between simple and compound interest on Rupees 1000 10% for 5 years?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 SI and CI on a sum of Rs 1000 at 10% for 2 years?∴The difference between the SI and CI is 25.
What will be the difference between simple and compound interest at the rate 10% per annum on the sum of rupees 1000 after 4 years?Hence, the difference between simple and compound interest is. 64 . 1 .
What will be the simple interest on Rupees 1000 at 10% per annum?Hence, the simple Interest at the end of 10 years = 1000× 10× 10100 = ₹1000.
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What is the difference between simple interest and compound interest on Rs 1000 at 10% for 5 years?
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