Case I :
Here P1 = Rs.20000 and r = 12%
So, Amount after 1 year
= `"P"(1 + "r"/100)`
= `20000( 1 + 12/100)`
= `20000 xx (112)/(100)`
= 22400
Thus, P2 = Rs.22400 and r = 12%
Amount after 2 year
= `"P"(1 + "r"/10)`
= `22400(1 + 12/100)`
= `22400 xx (112)/(100)`
= 25088
Thus, P3 = Rs.25088 and r = 12%
Amount after 3 year
= `"P"(1 + "r"/100)`
= `25088(1 + 12/100)`
= `25088 xx (112)/(100)`
= 28098.56
Hence, Amount = Rs.28098.56
Also, C.I.
= A - P
= Rs.28098.56 - Rs.20000
= Rs.8098.56
Case II :
Simple interest = `(20000 xx 12 xx 3)/(100)`
= 7200
Difference bertween C.I. and S.I.
= Rs.8098.56 - Rs.7200
= Rs.898.56.
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ML Aggarwal Solutions Class 8 Mathematics Solutions for Simple and Compound Interest Exercise 8.2 in Chapter 8 - Simple and Compound Interest
Question 7 Simple and Compound Interest Exercise 8.2
Calculate the difference between the compound interest and the simple interest on Rs 20000 in 2 years at 8% per annum.
Answer:
Principal (P) = Rs 20000
Rate (R) = 8% p.a.
Period (T) = 2 years
Hence,
Simple interest (S.I.) = PRT / 100
= Rs (20000 × 8 × 2) / 100
We get,
= Rs 3200
Now,
Amount on compound interest
A = P {1 + (R / 100)}n
= RS 20000 {1 + (8 / 100)}2
On further calculation,
We get,
= Rs 20000 × (27 / 25) × (27 / 25)
= Rs 32 × 729
= Rs 23328
Therefore,
Compound interest = Final amount – (original) Principal
= Rs 23328 – Rs 20000
We get,
= Rs 3328
Hence,
Difference in compound interest – simple interest
= Rs 3328 – Rs 3200
= Rs 128
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The compound interest on a sum of Rs. 20,000 at 15% p.a. for \(2 \frac{2}{3}\)years, when interest compounded yearly is:
This question was previously asked in
SSC CGL Tier 2 Quant Previous Paper 2 (Held On: 16 November 2020)
View all SSC CGL Papers >
- Rs. 9,000
- Rs. 9,095
- Rs. 9,908
- Rs. 8,896
Answer (Detailed Solution Below)
Option 2 : Rs. 9,095
Free
January Month Current Affair (1st Jan - 15th Jan)
30 Questions 30 Marks 30 Mins
Given:
Principal = Rs. 20000, Rate = 15%, Time = \(2\frac{2}{{3\;}}\;{\rm{years}}\)
Formula used:
Amount = Principal(1 + rate/100)time
Calculation:
Amount = Principal(1 + rate/100)time
\(\Rightarrow 20000 \times {\left( {1 + \;\frac{{15}}{{100}}} \right)^2}\left( {1 + \;\frac{{\frac{2}{3} \times 15}}{{100}}} \right)\)
\(\Rightarrow 20000 \times {\left( {\;\frac{{23}}{{20}}} \right)^2}\left( {\;\frac{{11}}{{10}}} \right)\)
⇒ 5 × 23 × 23 × 11
⇒ 29095
Interest = Amount – Principal
⇒ 29095 – 20000
⇒ 9095
∴ The compound interest is Rs. 9095.
Last updated on Dec 17, 2022
SSC CGL Tier III Result has been released on 20th December 2022 for the 2021 cycle. The candidates who cleared the Tier III are eligible for Document Verification/ Skill Test. Earlier, Staff Selection Commission had released the SSC CGL Answer Key on 17th December 2022. SSC CGL 2022 Tier I Exam was conducted from 1st to 13th December 2022. The SSC CGL 2022 Notification was out on 17th September 2022. The SSC CGL Eligibility is a bachelor’s degree in the concerned discipline. This year, SSC had completely changed the exam pattern and for the same, the candidates can read the SSC CGL New Exam Pattern to know more.
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