The difference between compound interest and simple interest on ₹ 10,000 for 2 years at 10% per annum is
Given:
Principal (P) = ₹10000
Time (T) = 2 years
Rate (R) = 10% per annum
Formula Used:
Difference between CI and SI for 2 years =
Solution:
Substitute the given values into the direct formula.
Difference =
= 10000 ×
= 10000 ×
= 100
Final Answer
So the correct answer is (a)
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Suggested Test Series
Suggested Test Series
The difference between the simple interest and compound interest(compounded half-yearly) on a certain sum at 10% per annum for one year is ₹ 100. The principal sum is equal to
A person invested half of his capital at 10% simple interest and the other half at 10% compound interest (compounded annually) for 2 years. If the total interest earned is ₹ 4,100 , his total capital was
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The difference between the simple and the compound interest on a certain sum of money for 3 years at 10% p.a is Rs. 77.50. Find the sum.
If at the same rate of interest, in 2 years, the simple interest is Rs. 42 and the compound interest is Rs. 49, then what is the principal?
Yogesh invested some money in HDFC at 4% per annum rate of interest. What would be the corresponding simple interest (in Rs. ) if after 2 years, Yogesh got Rs. 229.5 as compound interest, considering annual compounding?
When difference between compound and simple interest for three years is Rs. 152 at 4% interest per annum, the principal is Rs. ______
If at same rate of interest, in 2 years, the simple interest is Rs. 40 and compound interest is Rs. 41, then what is the principal (in Rs. )?
If at same rate of interest, in 2 years, the simple interest is Rs. 40 and compound interest is Rs. 80, then what is the principal (in Rs. )?
The difference between compound interest, compounded annually, and simple interest on a certain sum at 10% per annum for 2 years is Rs. 1,060. Find the sum (in Rs.).
