The difference between the simple interest on | vedclass

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

Question

(B) Let the principal be $P$.Simple Interest $(SI)$ for $2$ years at $10 \%$ per annum:$SI = P 	imes \frac{10 	imes 2}{100} = 0.2P$Compound Interest

Vedclass · Accepted Answer

$8000$

Vedclass · Answer

(B) Let the principal be $P$.Simple Interest $(SI)$ for $2$ years at $10 \%$ per annum:$SI = P 	imes \frac{10 	imes 2}{100} = 0.2P$Compound Interest $(CI)$ for $2$ years compounded half-yearly:Rate $R = 10 \% / 2 = 5 \%$ per half-year.Time $n = 2 	imes 2 = 4$ half-years.$CI = P \left(1 + \frac{5}{100}ight)^4 - P = P \left(1.05^4 - 1ight)$$CI = P (1.21550625 - 1) = 0.21550625P$Difference $= CI - SI = 0.21550625P - 0.2P = 0.01550625P$Given,$0.01550625P = 124.05$$P = \frac{124.05}{0.01550625} = 8000$Thus,the principal is ₹ $8000$.

The difference between the simple interest on a certain sum at the rate of $10 \%$ per annum for $2$ years and compound interest which is compounded every $6$ months is ₹ $124.05$. What is the principal (in ₹)?

Similar Questions

If the compound interest on a certain sum of money for $3$ years at $5 \%$ p.a. is $Rs. 504.40$,find the corresponding simple interest. (In $Rs.$)

The compound interest (in ₹) on ₹ $800$ for $2 \frac{1}{2}$ years at $5 \%$ per annum is:

If the difference between $S.I.$ and $C.I.$ for $2$ years on a sum of money lent at $5 \%$ per annum is $₹ 6$,then the sum is:

In how many years will a sum of ₹ $800$ at $10 \%$ per annum compounded semi-annually become ₹ $926.10$?

The difference between compound interest and simple interest on a sum for $2$ years at $10 \%$ per annum,when the interest is compounded annually,is ₹ $20$. If the interest were compounded half-yearly,the difference in the two interests (in ₹) will be:

Vedclass Test Series

Exam Paper Generator

Online Exam Module