What is the difference in simple interest and compound interest on a certain sum of money in 2 years at 10% pa?
In the case of simple interest, we get the same interest every year. We receive 20% interest after two years at a rate of 10%. In contrast, compound interest has the following formula: Amount = P(1+R/100)T A = 100(1+10/100)2 = 121 percent. CI = A — P = 21%.
What is the difference between simple and compound interest on a sum of money for 2 years at 5?
The difference between simple interest and compound interest on a sum of money for 2 years at 5% is Rs. 25. The sum is - Rs.8,000.
What is the difference between simple and compound interest on a sum of money for 2 years at 10%?
The difference between the compound interest and simple interest on a certain sum of money at 10% per annum for 2 years is Rs. 500.
What is the difference between simple interest and compound interest on a certain sum for 2 years at 6?
The difference between the compound interest and the simple interest on a certain sum for 2 years at 6% per annum is Rs 90.
What is the difference between simple and compound interest on a certain sum of money for 2 years at 15?
∴ P=Rs. 6400. The difference in S.I. and C.I. on a certain sum of money in 2 years at 15% p.a. is Rs. 144.
What is the difference between simple interest on a certain sum of money for 2 years and 3 years at 10%?
the difference between simple interest on sum of for 3 years and 2 years at 10% per annum is Rs 300.
What is the difference between simple and compound interest on a sum for 2 years at 8?
The difference between simple interest and compound interest on a sum for 2 years at 8% per annum is Rs. 160. If the interests were compounded half-yearly, the difference in interests in two years will be nearly.
What is the difference between compound interest and simple interest on a sum of two years at 20% per annum?
Simple interest for 2 years on Rs 100 at 20% pa = 100 × (20/100)× 2 = Rs 40. A = P [1 + (20/100)]² = 100(1.2)² = 100 × 1.44 = Rs 144. Difference between CI and SI = Rs 44 — Rs 40 = Rs 4. If difference of CI and SI is Rs 48 then Principal = Rs (100/4) × 48 = Rs 1200.
What is the difference between simple interest and compound interest on the same sum?
What is the main difference between simple interest and compound interest? Simple interest is computed on the principal amount or loan amount whereas compound interest is computed based on the principal amount as well as the interest accumulated for a certain period or previous period.
What is the difference between simple and compound interest on a sum of money at 20 per annum?
So if you invest for 2 years at 20% simple annual interest, the value of the investment will increase by 40%. If instead we compound 20% interest annually, then we multiply the value of the investment by 1.2 each year, so we multiply by (1.2)^2 = 1.44 over two years.
What sum of money will amount to 21296 in 3 years at 10% per annum compounded annually?
16000∴ Sum = Rs. 16000 Ans.
How do you find the amount of 8000 for 2 years?
8000Period (n) = 2 yearsRate (R1)=9% for the first yearR2=10% the second year∴ Amount (A)= P (1+R1100)1(1+R2100)1=8000 (1+9100) (1+10100)=Rs. 8000×109100×110100=Rs. 9592.
Why compound interest is more powerful than simple interest?
Why is compound interest important? Compound interest causes your wealth to grow faster. It makes a sum of money grow at a faster rate than simple interest because you will earn returns on the money you invest, as well as on returns at the end of every compounding period.
What pays more compound interest or simple interest?
Compound interest earns you more money in your bank account, even if you don't add to your account in the meantime. But if you borrow money, you'll pay more with compound interest, and the shorter the compounding period, the more you'll pay over time.
What earns more compound or simple interest?
When it comes to investing, compound interest is better since it allows funds to grow at a faster rate than they would in an account with a simple interest rate. Compound interest comes into play when you're calculating the annual percentage yield. That's the annual rate of return or the annual cost of borrowing money.
What would be the difference between the simple interest and the compound interest on a sum of money at the end of four years?
To find the sum, difference between C.I and S.I, time and rate of interest is needed. 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. 40.
What is the difference between simple interest and compound interest on a sum for 3 years at 5%?
The difference between simple and compound interest on a sum for 3 years at 5% p.a. is Rs. 76.30. Find the sum. The difference between the simple interest and compound interest for a certain sum of money for 3 years at 5% p.a. is Rs61.
What is the difference between compound interest and simple interest on a sum for 3 years when rate of interest is 10?
The difference between compound interest at 10% per annum and simple interest at 8% per annum on a certain sum for 3 years is Rs 910. Find the sum. The difference between the compound interest and the simple interest on certain sum at 10% per annum for three years is Rs. 93.
How to find difference between simple interest and compound interest for 2 years?
- Given, principal (P) = ₹ 8000. time period (n) = 2 yrs. rate of interest (R) = ? We know that, Difference between C.I & S.I is given by the formula, C.I - S.I = P(1 + R/100)n. Difference between C.I & S.I is. ...
- Hence, putting the given values in the formula. ⇒20 = 8000(R/100)2.
- ⇒ (R/100)2 = 20/8000.
- ⇒ (R/100)2 = 1/400.
What is the difference between compound interest and simple interest for 2 years at 8 pa 768?
The difference between compound interest and simple interest on a sum for 2 years at 8% p.a. is Rs. 768. What is the sum? If difference is Rs 768 then Principal = 100 × 768/0.64 = Rs 1,20,000.
What is the difference between compound interest and simple interest after one year?
CI−SI= 100−100=0. The difference in compound interest and simple interest for one year for Rs.
How to find the difference between simple interest and compound interest for 3 years formula?
- Simple interest = (P × R × T)/100.
- Compound Interest = P [1 + R/100]n - P.
- Difference of (C.I - S.I) for 3 years = 3 × P × (R/100)2 + P × (R/100)3.
- ⇒ 3 × 4000 × (30/100)2 + 4000 × (30/100)3.
- ⇒ 4000 × (0.27 + 0.027)
- ⇒ 4000 × 0.297 = Rs.1,188.
What is the difference between compound interest and simple interest for 2 years at 12% is 90?
The difference in the simple interest and compound interest for two years is on account of the interest paid on the first year's interest Hence 12% of simple interest = 90 = simple interest =90/0.12 =750. As the simple interest for a year = 750 @ 12% p.a., the principal =750/0.12 = Rs. 6250.
What is the difference in simple interest and compound interest on 15000 for 2 years at 6% pa compounded annually?
The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96.
How many years will 6250 amount to 7290 at 8% per annum compounded annually?
So, in 2 years Rs. 6250 will amount to Rs. 7290.
