What is the difference between amounts for 2 years and 3 years for Rs. 500 at 10% compound interest?

1️⃣ ₹.665.50

What is the difference between amounts for 2 years and 3 years for Rs. 500 at 10% compound interest?

1️⃣ ₹.665.50
2️⃣ ₹ 60
3️⃣ ₹ 60.50
4️⃣ ₹ 605​

2 thoughts on “What is the difference between amounts for 2 years and 3 years for Rs. 500 at 10% compound interest?<br /><br />1️⃣ ₹.665.50<br />”

  1. Formula of CI and A:-

    [tex] {\pmb {\red{CI = P( 1 + \frac{r}{100} )^n – P }}}[/tex]

    [tex]{ \pmb { \red{Amount = P ( 1 + \frac{r}{100} )^n }}}[/tex]

    Given,

    [tex] \sf \: P = ₹ 500 \\ \sf R = 10 \: \%[/tex]

    [tex] \sf \: T_1 = 2 \: years[/tex]

    [tex] \sf \: T_2 = 3 \: years[/tex]

    [tex] \rm \underline\blue{1st Amount = P ( 1 + \frac{r}{100} )^n}[/tex]

    [tex] \implies500 ( 1 + \frac{10}{100} )^2 \\ \\ \implies 500( \frac{100 + 10}{100} ) ^{2} \\ \\ \implies \: 500( \frac{110}{100} ) ^{2} \\ \\ \implies \: 5 \cancel{00} \times \frac{11 \cancel0}{1 \cancel0 \cancel0} \times \frac{11 \cancel0}{1 \cancel{00}} \\ \\ \implies5 \times 11 \times 11 \\ \\ \therefore \: ₹605[/tex]

    [tex] \rm \underline\blue{2nd Amount = P ( 1 + \frac{r}{100} )^n}[/tex]

    [tex]\implies500 ( 1 + \frac{10}{100} )^3 \\ \\ \implies 500( \frac{100 + 10}{100} ) ^{3} \\ \\ \implies \: 500( \frac{110}{100} ) ^{3} \\ \\ \implies \: 5 \cancel{00} \times \frac{11 \cancel0}{1 \cancel0 \cancel0} \times \frac{11 \cancel0}{1 \cancel{00}} \: \times \: \frac{11 \cancel0}{10 \cancel0} \\ \\ \implies5 \times 11 \times 11 \times \frac{11}{10} \\ \\ \therefore \: ₹ \frac{6655}{10} = ₹665.5[/tex]

    Henceforth,

    Difference = 2nd Amount – 1st Amount

    ⟹ ₹ 665.5 – ₹ 605

    [tex]\therefore[/tex] ₹60.5

    So, Option 3️⃣ ₹60.50 [tex]\bf\red{ [Ans]} [/tex]

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    Note :-

    • CI = Compound Interest
    • A = Amount

    [tex]\large \fbox \red {Hope \: it \: helps \: you}[/tex]

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