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On what sum of money will the difference between the compound interest and simple interest for 2years be equal to Rs 25 if the rate of interest charged for both is 5% p.a. Use the formula of compound interest and simple interest to get the principal amount.The correct answer is: Rs 10000Complete step by step solution:Let the principal amount = PIt is given that the rate of interest R = 5% and number of years T = 2 years.So, compound interest for 2 years = Simple interest for 2 years = It is given that compound interest - simple interest = 25 RupeesThat is, Rupees.Hence the principal amount = Rs 10000hello everyone the questions is on what sum of money will the difference between the simple interest and compound interest for 2 years at 5% per annum will be equal to rupees 50 so here I need to find the sum of money so let's suppose that the sum of money sum of money or I can say my principal Mani my principal be X and here I have my rate is equal to 5% here my rate is equal to 5% and my time which is also mentioned by an is two years and a difference between simple interest and compound interest is 50 therefore I know the formula of compound interest that is P X 1 + R 102 foreign -3 this is my compound interest and the questions is a difference between the compound interest and simple interest while - the simple interest that is pratap128 108 difference is equal to 50 foot the values and get answer so I'll try to eat eggs as I have assume it to be X1 plus hear my are is equal to 5 EP 102 the whole part 2 as my energy equal to 2 - 6 - X into 2 into 5 100 is equal to 50 right sorry Aaj Subah 5:00 take X4 I'll get text into 1 + 5 EP 100 whole square minus 1 minus 10 100 is equal to 50 write a letter for the solvent this would 21.20 whole square minus 1 minus one upon 10 is equal to 50 that would be checked into 2174 1.400 minus 1 minus one upon 10 is equal to 50 now hear my LCM would be 400 Tirupur 404 41 - 400 - 40 is equal to 50 therefore I'll get my ex upon 400 is equal to 50 so my ex will be equal to 20,000 right therefore my principal amount my principal amount or I can say the sum of money was equal to rupees 20000 so this is my final answer thank you On what sum of money will the difference between simple interest and compound interest is Rs. 80 for 2 years at 10% per annum.
Answer (Detailed Solution Below)Option 3 : Rs. 8000 Free Bihar Police Fireman Full Mock Test 2021 100 Questions 100 Marks 120 Mins Given: Difference between simple interest and compound interest = Rs. 80 Time = 2 years Rate = 10% per annum Formula used: Simple interest = (P × R × T)/100 Compound interest = P((1 + R/100)T – 1) Where, P → Principal R → Rate T → Time Calculation: Difference between simple interest and compound interest = Rs. 80 Time = 2 years Rate = 10% per annum According to the question, Compound interest – Simple interest = Rs. 80 ⇒ P((1 + R/100)T – 1) – ((P × R × T)/100) = 80 ⇒ P((1 + 10/100)2 – 1) – ((P × 10 × 2)/100) = 80 ⇒ P((11/10)2 – 1) – (P/5) = 80 ⇒ P((121/100) – 1) – (P/5) = 80 ⇒ (21P/100) – (P/5) = 80 ⇒ P/100 = 80 ⇒ P = Rs. 8000 ∴ The sum of money is Rs. 8000. Let the interest for 1 years is 'x'. Again interest for for for 1 years is 'y' Then S.I = 2x C.I = 2x + y Difference = y = 80 10% of x = 80 ⇒ x = (80 × 100)/10 ⇒ x = Rs. 800 10% of P = 800 ⇒ P = Rs. 8000 ∴ The sum of money is Rs. 8000. Latest Bihar Police Fireman Updates Last updated on Sep 26, 2022 Bihar Police Fire Admit Card released for the Physical Efficiency Test. The Central Selection Board of Constables (CSBC) will conduct the PET on 8th November 2022. Earlier, the Bihar Police Fireman Result for the written examination was released on 5th September 2022. Candidates who had qualified the same are only eligible for the PET. The candidates shortlisted for the post of Bihar Police Fireman will get a salary range between Rs. 21,700 to Rs. 69,100. Stay updated with the Quantitative Aptitude questions & answers with Testbook. Know more about Interest and ace the concept of Simple and Compound Both. On what sum of money will the difference between the simple interest and the compound interest?Detailed Solution
The difference between simple interest and compound interest is Rs. 63. ∴ The required sum of money is Rs. 25200.
On what sum of money will the difference between the simple interest and compound interest for 2 years at 5%?On what sum the difference between the compound interest and simple interest for `2` years at `5%` per annum is `Rs 25.
On what sum of money will the difference between the compound interest and simple interest for 3 years be equal to 930?This is Expert Verified Answer
Difference between the compound interest and simple interest for 3 years be equal to 930, if the rate of interest charged for both is 10% p.a. To Find: What is sum of money? Means amount of sum is 30000 Rupees.
On what sum of money will the difference between the compound interest and the simple interest for 2 years at 8% pa be Rs 384?Hence, the required answer is Rs. 20,000.
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On what sum of money will the difference between the compound interest and simple interest?
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