Ask a Doubt
Request a call back

Join NOW to get access to exclusive study material for best results

CBSE Class 8 Answered

Find the difference between Compound Interest and Simple Interest on Rs 45,000 at 12% per annum for 2 years
Asked by alphin.jacob | 07 Jan, 2016, 02:50: PM
answered-by-expert Expert Answer
Given, 
P = 45,000
N = 2 years
R = 12%
 
Calculating Simple Interest 
 
S I space equals space fraction numerator P N R over denominator 100 end fraction equals space fraction numerator 45000 cross times 2 cross times 12 over denominator 100 end fraction S I space equals 10800
 
 
Calculating Compound Interest 
A equals P open parentheses 1 plus R over 100 close parentheses to the power of N equals 45000 open parentheses 1 plus 12 over 100 close parentheses squared equals 45000 open parentheses fraction numerator 100 plus 12 over denominator 100 end fraction close parentheses squared equals 45000 open parentheses 112 over 100 close parentheses squared A space equals space 56448
 
CI = A - P
CI = 56448 - 45000
CI = 11448
 
Diffrence between CI and SI 
 
CI - SI = 11448 - 10800
CI - SI = 648
 
Hence, the difference between the Compound Interest and Simple Interest is Rs. 648
Answered by Keravi Thanani | 07 Jan, 2016, 05:34: PM

Application Videos

Concept Videos

Multiple Choice Questions Practice Test
Answered Unanswered My Questions My Answers
CBSE 8 - Maths
find the compound interest after 4 years if the interest compounded annually . whose principal is ₹6250 and rate of interest is 20%.
Asked by swainradhamohan19 | 26 Feb, 2024, 10:03: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 8 - Maths
The difference in CI and SI for 2 year on a sum of money is Rupees 250 If the sum is Rupees 6250 then find the rate percent
Asked by makolegupta | 27 Dec, 2023, 08:02: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 8 - Maths
give me
question image
Asked by sohanbiswas692 | 23 Nov, 2023, 03:54: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 8 - Maths
Rs. 10240 for 3years at 12 1/2%p.a compounded annually
Asked by bhuwanchandsharma476 | 09 Nov, 2023, 09:15: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 8 - Maths
Rs. 10240 for 3years 12 2/2%p.a compounded annually
Asked by bhuwanchandsharma476 | 09 Nov, 2023, 09:14: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 8 - Maths
Deepak borrowed rupees 18000 from his friend at the rate of 4% per annum simple interest for 2 years he learnt it to Sanjay at the same rate but compound annually find his gain after 2 years
Asked by singharchna060 | 01 Nov, 2023, 03:25: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 8 - Maths
formula for CI
Asked by subhash6401 | 10 Sep, 2023, 06:27: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 8 - Maths
A sum of money is invested at a compound interest for 9 months at 20 percent per annum compounded semi annually. If the interest were compounded quarterly, it would have fetched rs 210 more than in the previous case. Find the sum
Asked by GJain7394 | 20 Sep, 2022, 02:44: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 8 - Maths
Ramen took a loan of 130000 from a finance company at the rate of 10 p.a. for 15 months to purchase a motor cycle .How much amount will he pay if the interest is calculated compounded quarterly ?
Asked by jeetabhi0012 | 25 Oct, 2021, 10:15: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 8 - Maths
in how many years will Rs.882 amount to Rs.1100 at 5% per annum compounded annually
Asked by sohamosjsj05 | 20 Sep, 2021, 10:18: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
My Class Videos Tests ₹ Plans Ask a Doubt
Get Latest Study Material for Academic year 24-25 Click here
×