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
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
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Answer:
I don’t understand question
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 :-
[tex]\large \fbox \red {Hope \: it \: helps \: you}[/tex]