The difference between simple and compound interests on a sum of money at 4% per

Check All Courses

Question

The difference between simple and compound interests on a sum of money at 4% per annum for 2 years is 8. The sum is

Options:

A . 5,000

B . 400

C . 4,000

D . 800

Answer: Option A
Answer: (a)Using Rule 6,Let the sum be x.When difference between the compound interest and simple interest on a certain sum of money for 2 years at r% rate is x, then the sum is given by:Sum = Difference × $(100/\text"Rate")^2$= Rs.8 × $(100/4)^2$= Rs.8 × 25 × 25 = Rs.5000

Was this answer helpful ?

Next Question

Submit Comment/FeedBack

More Questions on This Topic :

Question 1. The difference between compound and simple interest on a certain sum for 3 years at 5% per annum is Rs. 122. The sum is....at 5% per annum is Rs. 122. The sum is

Question 2. The difference between the compound interest and simple interest on a certain sum for 2 years at 10% per annum is 300. F....years at 10% per annum is 300. Find the sum.

Question 3. What is the difference between compound interest on 5,000 for 1 1 2 years at 4% per annum according as the interest is c....annum according as the interest is compounded yearly or halfyearly?

Question 4. The difference between the compound interest (compounded annually) and the simple interest on a sum of 1000 at a certain....is 10. The rate of interest per annum is :

Question 5. The difference between simple interest and compound interest of a certain sum of money at 20% per annum for 2 years is 4....annum for 2 years is 48. Then the sum is

Question 6. The difference between compound interest (compounded annually) and simple interest on a certain sum of money at 10% per ....annum for 2 years is 40. The sum is :

Question 7. The difference between the compound interest and the simple interest on a certain sum at 5% per annum for 2 years is 1.5....per annum for 2 years is 1.50. The sum is

Question 8. A man took a loan from a bank at the rate of 12% per annum at simple interest. After 3 years he had to pay Rs.5,400 as i....the period. The principal amount borrowed by him was :

Question 9. In what time will Rs.72 become Rs.81 at 6$1/4$% per annum simple interest ?....

Question 10. Rs.800 becomes Rs.956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what ....4%, what amount will 800 become in 3 years ?

Latest Videos

Chapter 1 - GLOBAL STEEL SCENARIO & INDI Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)

Direction Sense Test Part 1 Reasoning (Hindi)

Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE

Cube & Cuboid Part 1 Reasoning (Hindi)

Data Interpretation (DI) Basic Concept Reasoning (Hindi)

Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)

Sail E0 free webinar Webinars

Real Numbers Part 7 Class 10 Maths

Real Numbers Part 1 Class 10 Maths

Polynomials Part 1 Class 10 Maths

Latest Test Papers

Chapter 3.1 : Overview of Finance & Acco Chapter 3 : Finance & Accounts SAIL E0 - GFM 2024

Chapter 2.1 : Overview Chapter 2 : Materials Management SAIL E0 - GFM 2024

Chapter 1.1 : Personnel Functions- An ov Chapter 1 : Personnel Management SAIL E0 - GFM 2024

GPOE / GPA Combined 1 Free CBT Mock Test SAIL E0 2024

CBT Mixed Test 1 GPOE/GPA SAIL E0 2024