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The difference between compound interest and simple interest on Rs. x at 6.5% per annum for 2 years is Rs. 33.80. What is the value of x?
Answer (Detailed Solution Below)Option 3 : Rs. 8000
 Free 10 Questions 10 Marks 7 Mins Given: The difference between compound interest and simple interest on Rs. x at 6.5% per annum for 2 years is Rs. 33.80. Formula used: Difference between CI and SI for 2 years = Principal amount × (R/100)2 Calculation: Let Principal amount be Rs X. 33.80 = X × (6.5/100)2 ⇒ X = 8000 ∴ Value of X is Rs 8000 Latest RRB Group D Updates Last updated on Sep 27, 2022 The Railway Recruitment Board has released the RRB Group D Answer Key on 14th October 2022. The candidates will be able to raise objections from 15th to 19th October 2022. The exam was conducted from 17th August to 11th October 2022. The RRB (Railway Recruitment Board) is conducting the RRB Group D exam to recruit various posts of Track Maintainer, Helper/Assistant in various technical departments like Electrical, Mechanical, S&T, etc. The selection process for these posts includes 4 phases- Computer Based Test Physical Efficiency Test, Document Verification, and Medical Test. Stay updated with the Quantitative Aptitude questions & answers with Testbook. Know more about Interest and ace the concept of Simple and Compound Both. The difference between the compound interest and simple interest for 3 years at 5% per annum on 8,000 will be
Answer (Detailed Solution Below)Option 4 : Rs. 61 Free Bihar Police SI Prelims 2020: Full Mock Test 100 Questions 200 Marks 120 Mins Given : Principal = Rs. 8000 Rate = 5% Time = 3 years Concept used : At compound interest, interest = P[1 + (R/100)]t - P (where p is the principle, R is the rate of interest and t is the time period) At simple interest , interest = (P × R × T)/100 Calculations : Principle = 8000 Interest at compound interest = 8000[1 + (5/100)]3 - 8000 (time is 3 years, are of interest is 5%) ⇒ 9261 - 8000 ⇒ 1261 Now, Simple interest = (8000 × 5 × 3/)100 ⇒ 1200 Difference of compound interest and simple interest = 1261 - 1200 ⇒ 61 rupees ∴ Option 4 is the correct answer. Alternate Method Concept used: Difference of C.I. and S.I. for 3 years = P(R/100)2((300 + R)/100) Calculations: Required difference = P(R/100)2((300 + R)/100) ⇒ 8000 × (5/100)2((300 + 5)/100) ⇒ 8000 × (1/400) × (305/100) ⇒ 8000 × 1/400 × 61/20 ⇒ 61 ∴ The required difference is Rs. 61. Latest Bihar Police SI Updates Last updated on Sep 22, 2022 Bihar Police Sub-Ordinate Service Commission (BPSSC) has activated the link to download the mark sheet of Bihar Police Sub Inspector on 21st August 2022. The candidates, who appeared for Bihar Police SI exam, must check their results before 4th September 2022. For Bihar Police vacancy 2020, the BPSSC had released as many as 1998 vacancies for the post of sub-inspector and 215 vacancies for the post of sergeant. Those who could not make it to the final merit list, should not lose their heart as the notification for 2022 is expected to be out very soon. Stay updated with the Quantitative Aptitude questions & answers with Testbook. Know more about Interest and ace the concept of Simple and Compound Both. What is the difference between compound interest and simple interest on Rs 8000?Amount=P(1+r100)n=8000(1+5100)2=8000×(1+120)2=8000×(2120)2=8000×441400=20×441=8820∴CI=Amount−Principal=8820−8000=820. Q. A person invests Rs. 5,000 for three years at a certain rate of interest compounded annually.
What will be the difference between simple and compound interest on Rupees 8000 at the rate of 5% per annum at the end of 3 years?The difference of S.I and C.I on a sum at 5% per annum for 3 years is Rs. 36.60.
What is the compound interest on Rupees 8000?So, the compound interest on Rs 8000 at 20% per annum for 9 months compounded quarterly is 1261.
What will be the difference between compound interest and simple interest on rupees 10000 at 8% per annum for 2 years?The difference between the compound interest and simple interest on Rs. X at 8% per annum for 2 years is Rs. 19.20.
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What is the difference between the compound interest and simple interest on Rupees 8000?
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