*What is the difference between compound interests for 2 years and 3 years for Rs. 500 at 10% rate compounded annually?* 1️⃣ ₹ 1052️⃣ ₹60.503️⃣ ₹ 505.504️⃣ ₹ 165.50 About the author Lyla
Answer: (b) Rs. 60.50 is the correct answer. Step-by-step explanation: (i) For 2 years Given; P = 500 T = 2 years R = 10% A = P (1+R/100)^T A = 500( 1+10/100)^2 A = 500(110/100)^2 A = 500 × 110/100 × 110/100 A = 605 CI = A – P CI = 605 – 500 CI = 105 for 2 years (ii) For 3 years Given; P = 500 T = 3 years R = 10% A = P(1+R/100)^T A = 500(1+10/100)^3 A = 500(110/100)^3 A = 500 × 110/100 × 110/100 × 110/100 A = 665.5 CI = A – P CI = 665.5 – 500 CI = 165.5 Difference = For 3 years – For 2 years Difference = 165.5 – 105 Difference = 60.5 Hence , (b) Rs. 60.50 is the correct answer. Hope it helps!! Reply
Answer:
2️⃣ ₹60.50this is right answer
Answer:
(b) Rs. 60.50 is the correct answer.
Step-by-step explanation:
(i) For 2 years
Given;
P = 500
T = 2 years
R = 10%
A = P (1+R/100)^T
A = 500( 1+10/100)^2
A = 500(110/100)^2
A = 500 × 110/100 × 110/100
A = 605
CI = A – P
CI = 605 – 500
CI = 105 for 2 years
(ii) For 3 years
Given;
P = 500
T = 3 years
R = 10%
A = P(1+R/100)^T
A = 500(1+10/100)^3
A = 500(110/100)^3
A = 500 × 110/100 × 110/100 × 110/100
A = 665.5
CI = A – P
CI = 665.5 – 500
CI = 165.5
Difference = For 3 years – For 2 years
Difference = 165.5 – 105
Difference = 60.5
Hence , (b) Rs. 60.50 is the correct answer.
Hope it helps!!