The C.I. on a sum of money for 2 years is Rs. 832 and the S.I. on the same sum for the same period is Rs. 800. The difference between the C.I and S.I. for 3 years will be
Medium
Solution
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Correct option is C)
Given that simple interest for 2 years is Rs.800
i.e., Simple interest for 1st year is Rs.400 and simple interest for 2nd year is also Rs.400
Compound interest for 1st year will be 400 and compound interest for 2nd year will be 832−400=432
We can see that compound interest for 2nd year is more than simple interest for 2nd year by 432−400=Rs.32
Rs. 32 is the interest obtained for Rs.400 for 1 year
R=
PT
100×SI
=
400×1
100×32
=8%
Difference between compound and simple interest for the 3rd year
= Simple Interest obtained for Rs.832 =
100
PRT
=
100
832×8×1
=66.56
Total difference between the compound and simple interest for 3 years =32+66.56=Rs.98.56
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Answer:
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Class 11
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>>Basics of financial mathematics
>>Accumulation with simple and compound interest
>>The C.I. on a sum of money for 2 years i
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The C.I. on a sum of money for 2 years is Rs. 832 and the S.I. on the same sum for the same period is Rs. 800. The difference between the C.I and S.I. for 3 years will be
Medium
Solution
verified
Verified by Toppr
Correct option is C)
Given that simple interest for 2 years is Rs.800
i.e., Simple interest for 1st year is Rs.400 and simple interest for 2nd year is also Rs.400
Compound interest for 1st year will be 400 and compound interest for 2nd year will be 832−400=432
We can see that compound interest for 2nd year is more than simple interest for 2nd year by 432−400=Rs.32
Rs. 32 is the interest obtained for Rs.400 for 1 year
R=
PT
100×SI
=
400×1
100×32
=8%
Difference between compound and simple interest for the 3rd year
= Simple Interest obtained for Rs.832 =
100
PRT
=
100
832×8×1
=66.56
Total difference between the compound and simple interest for 3 years =32+66.56=Rs.98.56
Step-by-step explanation:
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