ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    The simple interest on a sum for 2 years at 10% per

    annum is Rs 4,000. Find the difference between the compound interest and the simple interest on the same sum, at the same rate and time.
    A 800 Correct Answer Incorrect Answer
    B 300 Correct Answer Incorrect Answer
    C 500 Correct Answer Incorrect Answer
    D 200 Correct Answer Incorrect Answer

    Solution

    Let principal = P. SI for 2 years = P ├Ч 10 ├Ч 2 /100 = P/5 Given P/5 = 4,000 тЗТ P = 20,000 Difference (CI тИТ SI) for 2 years at rate r% = P ├Ч (r/100)┬▓ r = 10 тЗТ r/100 = 0.10 Difference = 20,000 ├Ч (0.10)┬▓ = 20,000 ├Ч 0.01 = Rs 200.

    Practice Next
    More Simple and compound interest Questions
    ask-question