Find the difference between the compound interest and the simple interest in 2 years on Rs 5,000 at 8% p.a. compounded annually. Show
SolutionHere P = Rs 5000 · r = 8 % t = 2years For simple interest: S.I. = `("P" xx "r" xx "t")/100` S.I. = Rs `(5000 xx 8 xx 2)/100` S.I. = Rs 800 For compound interest: `"A" = "P" (1 + "r"/100)^"n"` A = Rs 5000 `(1 + 8/100)^2` A = Rs `5000 xx 108/100 xx 108/100` A= Rs 5,832 C.l. = A - P C.l. = Rs (5832 -5,000) C.l. = Rs 832 = Rs (832 - 800) = Rs 32. Concept: Finding CI from the Relation CI = A – P Is there an error in this question or solution? APPEARS IN
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What is the difference between the simple interest on a principle of Rs 5000 being calculated at 5% pa for 3 years and 4 Pa for 4 years?Thus, the difference in interest is Rs. 38.125.
What is the difference between the compound interest and the simple interest on Rs 5000 lent out for two years at 5% per annum?This is Expert Verified Answer
thus, difference is 40.5.
What is the difference between compound interest on Rs 5000 for 1 and half year at 4% per annum the interest is compounded yearly and half yearly?5000 for 1 1/2 years at 4% per annum compounded yearly and half-yearly? = Rs. 5304.
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