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Solution Let the sum (P) be Rs.x.Time, T=2 years Rate, R=4% (adsbygoogle = window.adsbygoogle || []).push({}); Difference between C.I and S.I=Re. 1Compound Interest is given by the formulaC.I=A−P=P(1+R100)T−P=x[1+4100]2−x] (adsbygoogle = window.adsbygoogle || []).push({}); =x×[2625]2−x=[676625x−x]=51625xS.I.=P×R×T100=x×4×2100=2x25 (adsbygoogle = window.adsbygoogle || []).push({}); ∴C.I−S.I=1 [Given]⇒51x625−2x25=1⇒51x625−2x×2525×25=1⇒51x625−50x625=1⇒51x−50x625=1 (adsbygoogle = window.adsbygoogle || []).push({}); ⇒x=625Hence, the principal sum is Rs.625.What will be the difference between simple and compound interest at 10% on a sum?Principal sum = ₹1000, interest rate = 10%p.a. , time= 4yrs. Simple interest= P.R.T/100 = 1000×10×4/100 = 400. Compound interest= P{1+ R/100}™ - P =1000{1+10/1000}^4-1000 = 1464.1 - 1000 = 464.1 Thus difference in interests= 464.1 - 400 = ₹64.1.
What is the difference between compounding and simple interest?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 difference between the compound interest and simple interest on a sum of rupees 6400 at the rate of 10% per annum for 2 years?The simple interest is given as S I = P r t 100 and the compound interest is given as C I = P ( 1 + r 100 ) t − P where P is the prinicipal amount, r is the interest rate and t is the time in years. Hence D is the correct answer. ∴ Required difference = 1% of 6400 = 6400 × (1/100) = 64.
What would be the difference between the simple interest and the compound interest on a sum of money at the end of 4 years?The difference between the compound interest and the simple interest earned on a sum of money at the end of 4 years is Rs. 256.
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The difference between compound interest and simple interest on a certain sum of money at 10
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