Question
Find the difference between compound interest and simple
interest on Rs 5,000 for 2 years at 8% per annum (compounded annually).Solution
Simple Interest (SI): SI = (P × R × T) / 100 = (5,000 × 8 × 2) / 100 = (5,000 × 16) / 100 = 80,000 / 100 = Rs 800 Compound Interest (CI): Amount A = P(1 + R/100)² = 5,000 × (1 + 8/100)² = 5,000 × (1 + 2/25)² = 5,000 × (27/25)² = 5,000 × (729/625) First divide 5,000 by 625: 5,000 ÷ 625 = 8 So A = 8 × 729 = 5,832 CI = A − P = 5,832 − 5,000 = Rs 832 Difference = CI − SI = 832 − 800 = Rs 32 Answer: Rs 32
Nagi Bird Festival, recently seen in the news, is associated with which state?
What is the causative agent of Kala-azar, that was in the news recently?
- In which Indian state is "Kuno National Park" situated?
Until when beverage major Coca-Cola extended its partnership with the International Cricket Council (ICC)?
Which hormone regulates the body’s circadian rhythm?
Which state government has recently installed pink alarms at the government-run district hospital and medical college for safety of women?
In which country did the Indian High Commission host the national Davis Cup team, marking their first visit in 60 years?
Which of the following Airports has become the busiest airport in India?
When is Global Family Day celebrated?
- Which method is most appropriate for disposing of hazardous waste?
