hamburger menu
All Coursesall course arrow
adda247
reward-icon
adda247
    arrow
    arrow
    arrow
    The difference between the compound interest and simple interest on a principal amount for 2 years a 10% per annum is Rs.5431. find the principal amou
    Question

    The difference between the compound interest and simple interest on a principal amount for 2 years a 10% per annum is Rs.5431. find the principal amount.

    A.

    Rs.54310

    B.

    Rs.108620

    C.

    Rs.453100

    D.

    Rs.543100

    Correct option is D

    Let the principle amount be P.
     for the simple interest of 2 years,
    S.I. = (P × R × T)/100
    (P × 10 × 2)/100 = 0.2P
    Now, the compound interest of 2 years,
     C.I. = A - P
     P(1 + r)t - P
     P((1 + 0.1)2 - 1)
    P((1.1)2 - 12)
    P(1.1 + 1)(1.1 - 1)
    P(2.1)(0.1)=  0.21P
    Now it is given that the difference is Rs. 5431
    0.21P - 0.2P = 5431
    0.01P = 5431
     P = 543100

    Free Tests

    Free
    Must Attempt

    Basics of Education: Pedagogy, Andragogy, and Hutagogy

    languageIcon English
    • pdpQsnIcon10 Questions
    • pdpsheetsIcon20 Marks
    • timerIcon12 Mins
    languageIcon English
    Free
    Must Attempt

    UGC NET Paper 1 Mock Test 1

    languageIcon English
    • pdpQsnIcon50 Questions
    • pdpsheetsIcon100 Marks
    • timerIcon60 Mins
    languageIcon English
    Free
    Must Attempt

    Basics of Education: Pedagogy, Andragogy, and Hutagogy

    languageIcon English
    • pdpQsnIcon10 Questions
    • pdpsheetsIcon20 Marks
    • timerIcon12 Mins
    languageIcon English

    Similar Questions

    test-prime-package

    Access ‘UGC NET December’ Mock Tests with

    • 60000+ Mocks and Previous Year Papers
    • Unlimited Re-Attempts
    • Personalised Report Card
    • 500% Refund on Final Selection
    • Largest Community
    students-icon
    370k+ students have already unlocked exclusive benefits with Test Prime!
    Our Plans
    Monthsup-arrow