Find the difference between the simple interest and the compound … - Vidyadip

Question

Find the difference between the simple interest and the compound interest on Rs. 5000 for 2 years at 9% per annum.

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Answer

Principal (p) = Rs. 5000 Rate (R) = 9% p.a. Time (n) = 2 years$\therefore\text{S.I.}=\frac{\text{PRT}}{100}$
$=\frac{5000\times9\times2}{100}$
$=\text{Rs.}\ 900$
New amount at C.I. $=\text{P}\Big(1+\frac{\text{R}}{100}\Big)^\text{n}$ $=\text{Rs.}\ 5000\Big(1+\frac{9}{100}\Big)^\text{2}$ $=\text{Rs.}\ 5000\times\frac{109}{100}\times\frac{109}{100}$ $=\text{Rs.}\ \frac{11881}{2}$ $=\text{Rs.}\ 5940.50$ $\therefore$ C.I = A - P = Rs. 5940.50 - Rs. 5000 = Rs. 940.50 $\therefore$ Difference between C.I. and S.I. = Rs. 940.50 - Rs. 900 = Rs. 40.50

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