Advertisements
Advertisements
Question
Find the difference between compound interest and simple interest on Rs.12,000 and in `1 1/2` years at 10% compounded yearly.
Solution
Given: P = Rs. 12,000; n = `1 1/2` years and r = 10%
S.I. = `[ P xx R xx T ]/100 = [ 12,000 xx 10 xx 3/2 ]/100 = Rs. 1,800`
To Calculate C.I. annually
P = Rs. 12,000; n = 1 year and r = 10%
A = `"P"( 1 + r/100)^n (1 + r/200)^(1/2xx2)`
= `12,000( 1 + 10/100 ) (1 + 10/200)`
= `12000 xx 11/10 xx 21/20`
= 660 × 21
= Rs. 13,860`
C.I = 13860 - 12000
= 1860
So Difference between C.I and C.I
C.I - S.I
= 1860 - 1800
₹60
APPEARS IN
RELATED QUESTIONS
If the interest is compounded half-yearly, calculate the amount when principal is Rs. 7,400; the rate of interest is 5% per annum and the duration is one year.
Find the difference between the compound interest compounded yearly and half-yearly on Rs. 10,000 for 18 months at 10% per annum.
What sum of money will amount to Rs. 27,783 in one and a half years at 10% per annum compounded half yearly ?
Calculate the C.I. on Rs. 3,500 at 6% per annum for 3 years, the interest being compounded half-yearly.
Do not use mathematical tables. Use the necessary information from the following:
(1.06)3 =1.191016; (1.03)3 = 1.092727
(1.06)6 =1.418519; (1.03)6 = 1.194052
Find the amount and the compound interest payable annually on the following :
Rs.24000 for 1`(1)/(2)` years at 7`(1)/(2)`% per annum.
[Hint : 1 year 146 days = `1(146)/(365)"year" = 1(2)/(5)"year"`]
Calculate the amount and compound interest to the nearest rupee on Rs 42000 for 2 years at 8% per annum, interest being payable half-yearly.
A man lends Rs 15000 at 10.5% per annum C.I., interest reckoned yearly, and another man lends the same sum at 10% per annum, interest being reckoned half-yearly. Who is the gainer at the end of one year and by how much?
Simple interest on a sum of money for 2 years at 4% is Rs 450. Find the compound interest at the same rate for 1 year if the interest is reckoned half-yearly.
A man borrows Rs.6500 at 10% per annum compound interest payable half-yearly. He repays Rs.2000 at the end of every six months. Calculate the amount outstanding at the end of the third payment. Give your answer to the nearest rupee.
Find the amount and the compound interest on the following :
Rs.15000 for 2years at 8% per annum compounded semi-annually.
