If the compound interest on a certain sum for | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(B) Let the principal be $P$,the rate of interest be $R$ per annum,and the time be $T = 2$ years.Simple Interest $(SI)$ for $2$ years = $P 	imes R

Vedclass · Accepted Answer

$500$

Vedclass · Answer

(B) Let the principal be $P$,the rate of interest be $R$ per annum,and the time be $T = 2$ years.Simple Interest $(SI)$ for $2$ years = $P 	imes R 	imes 2 / 100 = 100$.Thus,$P 	imes R = 5000$.Compound Interest $(CI)$ for $2$ years = $P[(1 + R/100)^2 - 1] = 105$.$P[1 + R^2/10000 + 2R/100 - 1] = 105$.$P[R^2/10000 + 2R/100] = 105$.Since $P 	imes R = 5000$,we have $P 	imes R / 100 = 50$.Substituting $P 	imes R = 5000$ into the equation: $(5000 	imes R) / 10000 + (2 	imes 5000) / 100 = 105$.$0.5R + 100 = 105$.$0.5R = 5 \Rightarrow R = 10\%$.Now,using $P 	imes R = 5000$,we get $P 	imes 10 = 5000$.Therefore,$P = ₹ 500$.

If the compound interest on a certain sum for $2$ years is ₹ $105$ and simple interest is ₹ $100$,then the sum (in ₹) is:

Similar Questions

The simple interest accrued on an amount of $Rs. 19800$ at the end of $3$ years is $Rs. 7128$. What would be the compound interest (in $Rs.$) accrued on the same amount at the same rate in the same period?

If the difference between the compound interest and simple interest on a sum of money for $3$ years is ₹ $186$,find the sum of money (in ₹) if the rate of interest in both cases is $10 \%$.

$A$ sum of money placed at compound interest doubles itself in $4$ $years$. In how many $years$ will it amount to four times itself?

$A$ sum of money amounts to ₹ $6655$ at the rate of $10 \%$ compounded annually for $3$ years. The sum of money is (in ₹):

The compound interest (in ₹) on ₹ $2000$ at $5 \%$ per annum,compounded yearly,for $2$ years is

Vedclass Test Series

Exam Paper Generator

Online Exam Module