ML Aggarwal Solutions Class 9 Mathematics Solutions for Compound Interest Exercise 2.2 in Chapter 2 - Compound InterestQuestion 7 Compound Interest Exercise 2.2 Show
Find the difference between the simple interest and compound interest on 2 years at 4% per annum, compound interest being reckoned semi-annually. Answer: It is given that Principal (P) = ₹ 2500 Rate of interest (r) = 4% p.a. or 2% half-yearly Period (n) = 2 years or 4 half-years We know that SI = Prt/100 Substituting the values = (2500 × 4 × 2)/100 = ₹ 200 If compounded semi-annually \begin{aligned} &\mathrm{A}=\mathrm{P}(1+\mathrm{r} / 100)^{\mathrm{n}}\\ &\text { Substituting the values }\\ &=2500(1+2 / 100)^{4} \end{aligned} By further calculation = 2500 × 51/50 × 51/50 × 51/50 × 51/50 = ₹ 2706.08 We know that CI = A – P Substituting the values = 2706.08 – 2500 = ₹ 206.08 So the difference between CI and SI = 206.08 – 200 = ₹ 6.08
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 Case I : = `5000(1 + 6/100)` = `5000 xx (106)/(100)` = `5300(1 + 6/100)` = `5300 xx (106)/(100)` = `5618(1+ 6/100)` = `5618 xx (106)/(100)` The difference between compound interest and simple interest at the same rate on Rs. 5000 for 2 years is Rs. 72. Find the rate of interest per annum.
Answer (Detailed Solution Below)Option 1 : 12%
Free 10 Questions 10 Marks 7 Mins Given: Difference between Compound Interest (CI) and Simple Interest (SI) = Rs. 72 Principal (P)= Rs. 5000 Time (t) = 2 years Formula used: Difference between CI and SI for 2 years = PR2/1002 Where R is the Rate of Interest. Calculation: Using the above formula: 72 = (5000 × R2)/1002 ⇒ R2 = 720/5 = 144 ⇒ R = 12% ∴ The rate of interest is 12% Last updated on Sep 21, 2022 The RRB (Railway Recruitment Board) has released the Result, and Cut Off marks for the CBAT (Computer Based Aptitude Test) stage for Pay Level 6. The result and cut-off marks are announced for the RRB Chandigarh, Bhopal & Chennai regions for the recruitment cycle 2021. The exam is conducted to fill up a total number of 35281 vacant posts. Candidates who are qualified for the Computer Based Aptitude Test will be eligible for the next round, which will be Document Verification & Medical Exam. The candidates with successful selection under RRB NTPC will get a salary range between Rs. 19,900 to Rs. 35,400. Know the RRB NTPC Result here. Let's discuss the concepts related to Interest and Compound Interest. Explore more from Quantitative Aptitude here. Learn now! The difference between simple and compound interest for a sum of Rs. 5,000 lent at 12% per annum in 2 years is
Answer (Detailed Solution Below)Option 3 : Rs. 72 Free 20 Questions 30 Marks 18 Mins Given: The sum = Rs. 5000 The time = 2 years The rate = 12% Formula used: The difference between CI and SI for two years = \(P \times {({R\over 100})^2}\) Where, P = Principle, and R = Rate Calculation: Let the difference between CI and SI be X ⇒ X = \(5000 \times {({12\over 100})^2}\) = \({5000\ \times {144\over 10000}}\ =\ {5\ \times 14.4}\ =\ Rs.\ 72\) ∴ The required result will be Rs. 72. Latest TNPSC Group 2 Updates Last updated on Sep 26, 2022 The Tamil Nadu Public Service Commission (TNPSC) has released the TNPSC Group 2 Admit Card for the Prelims exam. The prelims exam is scheduled to be conducted on 21st May 2022. A total of 5529 vacancies have been released by the commission for the recruitment of the posts under TNPSC Group 2 like Assistant Section Officer, Revenue Assistant, Assistant, etc. Candidates can refer to the TNPSC Group 2 Previous Year Papers to analyze the type of questions and level of the examination and improve their preparation as well. Let's discuss the concepts related to Interest and Simple and Compound Both. Explore more from Quantitative Aptitude here. Learn now! What is the total amount of Rs 5000 in 2 years at the rate of 6% per year compound interest?= 618. Was this answer helpful?
What is the difference between simple interest and compound interest for a period of 2 years?Generally, simple interest paid or received over a certain period is a fixed percentage of the principal amount that was borrowed or lent. Compound interest accrues and is added to the accumulated interest of previous periods, so borrowers must pay interest on interest as well as principal.
What will be the compound interest on 5000 in 2 years?∴ Compound interest is Rs.1050
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What is the difference between the compound interest and the simple interest on Rs 5000 lent out for two years at 5% per annum?This is Expert Verified Answer
thus, difference is 40.5.
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What is the difference between the simple interest and the compound interest on 5000 for 2 years at 6% per annum?
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