Find the difference between simple interest and compound interest on Rs 2000/- at 12pcpa for 2 years About the author Piper
Step-by-step explanation: Here, P = ₹ 2000; R = 5 % ; N = 2 years A=P(1+ R 100 )N =2000(1+ 5 100 )2 =2000( 105 100 )2 =2000( 21 20 )2 =2205 Rupees∴ Compound Interest after 2 years,I = Amount – Principal =2205-2000 =205 Rupees Hence, Amount = ₹ 2205 and Compound interest = ₹ 205. (2) Here, P = ₹ 5000; R = 8 % ; N = 3 years A=P(1+ R 100 )N =5000(1+ 8 100 )3 =5000( 108 100 )3 =5000( 27 25 )3 =6298.56 Rupees∴ Compound Interest after 3 years,I = Amount – Principal =6298.56-5000 =1298.56 Rupees Hence, Amount = ₹ 6298.56 and Compound interest = ₹ 1298.56 (3) Here, P = ₹ 4000; R = 7.5 % ; N = 2 years A=P(1+ R 100 )N =4000(1+ 7.5 100 )2 =4000(1+ 75 1000 )2 =4000( 1075 1000 )2 =4000( 43 40 )2 =4622.50 Rupees∴ Compound Interest after 2 years,I = Amount – Principal =4622.50-4000 =622.50 Rupees Hence, Amount = ₹ 4622.50 and Compound interest = ₹ 622.50 Reply
Step-by-step explanation:
Here, P = ₹ 2000; R = 5 % ; N = 2 years
A=P(1+
R
100
)N =2000(1+
5
100
)2 =2000(
105
100
)2 =2000(
21
20
)2 =2205 Rupees∴ Compound Interest after 2 years,I = Amount – Principal =2205-2000 =205 Rupees
Hence, Amount = ₹ 2205 and Compound interest = ₹ 205.
(2) Here, P = ₹ 5000; R = 8 % ; N = 3 years
A=P(1+
R
100
)N =5000(1+
8
100
)3 =5000(
108
100
)3 =5000(
27
25
)3 =6298.56 Rupees∴ Compound Interest after 3 years,I = Amount – Principal =6298.56-5000 =1298.56 Rupees
Hence, Amount = ₹ 6298.56 and Compound interest = ₹ 1298.56
(3) Here, P = ₹ 4000; R = 7.5 % ; N = 2 years
A=P(1+
R
100
)N =4000(1+
7.5
100
)2 =4000(1+
75
1000
)2 =4000(
1075
1000
)2 =4000(
43
40
)2 =4622.50 Rupees∴ Compound Interest after 2 years,I = Amount – Principal =4622.50-4000 =622.50 Rupees
Hence, Amount = ₹ 4622.50 and Compound interest = ₹ 622.50