Question
Suppose 'S' invested Rs. 40,000 each at 12% p.a. in two
different Funds for 2 years, with one Fund offering compound interest (compounded annually) and the other offering simple interest, what is the difference between the interest earned from both Funds?Solution
ATQ, Simple interest earned = (40000 × 12 × 2) ÷ 100 = Rs. 9,600 And compound interest earned = 40000 × {1 + (12/100)}2 - 40000 = Rs. 10,176 So, required difference = 10176 - 9600 = Rs.576
More Simple and compound interest Questions
Identify the answer figure from which the pieces given in question figure have been cut.
Question Image:
How many triangles are there in the diagram below:
Question image:
Which answer figure will complete the pattern in the question figure?
Choose which of the following figures completes the pattern.
A sheet of paper has been folded as shown by the question figure. You have to figure out from amongst the four answer figures how it will...
Relevant for Exams:
