The difference between compound and simple interest on a certain sum of money for 2 years at 2% p.a is ₹ 1. The sum of money is __________
Options
₹ 2000
₹ 1500
₹ 3000
₹ 2500
Solution
₹ 2500
Explanation;
Hint:
Difference between C.I. and S.I. is given as ₹ 1
Time period (n) = 2 years
Rate of interest (r) = 2% p.a
Formula for difference is
C.I. − S.I. = `"P" xx (1 + "r"/100)^"n"`
Substituting the values in above formula, we get
1 = `"P" xx (2/100)^2`
∴ P = `1 xx (100/2)^2`
= 1 × (50)2
= ₹ 2500
Concept: Difference Between Compound Interest and Simple Interest
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RD Sharma Solutions Class 8 Mathematics Solutions for Compound Interest Exercise 14.2 in Chapter 14 - Compound Interest
Question 36 Compound Interest Exercise 14.2
The difference between the compound interest and simple interest on a certain sum for 2 years at 7.5% per annum is Rs. 360. Find the sum.
Answer:
Given,
Time = 2 years
Rate = 7.5 % per annum
Let principal = Rs P
Compound Interest (CI) – Simple Interest (SI) = Rs 360
C.I – S.I = Rs 360
By using the formula,
P [(1 + R/100)^n - 1] – (PTR)/100 = 360
P [(1 + 7.5/100)^2 - 1] – (P(2)(7.5))/100 = 360
P[249/1600] – (3P)/20 = 360
249/1600P – 3/20P = 360
(249P-240P)/1600 = 360
9P = 360 × 1600
P = 576000/9
= 64000
∴ The sum is Rs 64000
Video transcript
hello everybody welcome to leader learning my name is rajna chaudhary and we have to write this statement in the equation form it is written that write equation for the statements for these statements so statement is one fourth of a number x minus g minus four gives four so one fourth of a number x would be one fourth of x that mean the value of this part is 1 by 4 of x then we have to minus 4 from it so let's minus 4 from it so minus 4 and gives gives means is equal to 4 so this is the equation for the statement we can write it like that at the place of off we can write multiply then minus 4 is equal to 4. we can also write it like x upon 4 minus 4 is equal to 4. so this is the form of equation for the statement i hope you understand the method see you in my next video don't forget to like comment and subscribe leader learning channel thank you for watching
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