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    the simple interest on a certain amount for two years at the rate of 5% per annum is ₹160. what would be the difference between compound interest and simple interest for the same period and at the same rate of interest?

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    get the simple interest on a certain amount for two years at the rate of 5% per annum is ₹160. what would be the difference between compound interest and simple interest for the same period and at the same rate of interest? from screen.

    The difference between the simple interest and the compound interest on a certain principal for 2 years is Rs. 160 . If the simple interest is Rs. 2,880 , find the rate of interest.

    Click here👆to get an answer to your question ✍️ The difference between the simple interest and the compound interest on a certain principal for 2 years is Rs. 160 . If the simple interest is Rs. 2,880 , find the rate of interest.

    Question

    The difference between the simple interest and the compound interest on a certain principal for 2 years is Rs. 160. If the simple interest is Rs. 2,880, find the rate of interest.

    Given : ∣S.I.−C.I.∣=160 ..... (i)  n=2 ans S.I.=Rs. 2,880

    Medium Open in App Solution Verified by Toppr We know that, S.I.= 100 P×n×R ​ ⟹2880= 100 P×2×R ​ ⟹ 100 PR ​ =1440 ........ (ii) ∣S.I.−C.I.∣=P[(1+ 100 R ​ ) 2 −1]−2880 =P( 10000 R 2 ​ + 100 2R ​ )−2880 ⟹160= 100 PR ​ ( 100 R ​ +2)−2880 ⟹3040=1440( 100 R ​ +2) ...... From (i) ⟹ 100 R ​ +2= 1440 3040 ​ = 9 19 ​ ⟹R= 9 1 ​ ×100=11.1%

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    Simple Interest and Compound Interest: Practice Questions

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    Simple Interest and Compound Interest: Practice Questions

    Solve the given practice questions based on Simple and Compound Interest. Also, the answer key and explanations are given for the same.

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    Q.1.The difference in simple interest and compound interest on a certain sum of money in 2 years at 10 % p.a. is Rs. 50. The sum is

    a) Rs. 10000 b) Rs. 6000 c) Rs. 5000 d) Rs. 2000 e) None of these Suggested Action:

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    Q.2. The difference in simple interest and compound interest on a certain sum of money in 2 years at 18 % p.a. is Rs. 162. The sum is

    a) Rs. 4000 b) Rs. 5200 c) Rs. 4250 d) Rs. 5000 e) None of these

    Q.3. The compound interest on a certain sum of money for 2 years is Rs. 208 and the simple interest for the same time at the same rate is Rs. 200. Find the rate %.

    a) 5 % b) 6 % c) 7 % d) 4 % e) 8 %

    Q.4.The difference between compound interest and simple interest on a certain sum for 2 years at 10 % is Rs. 25. The sum is

    a) Rs. 1200 b) Rs. 2500 c) Rs. 750 d) Rs. 1250 e) Rs. 2000

    Q.5.The simple interest on a certain sum for 3 years in Rs. 225 and the compound interest on the same sum for 2 years is Rs. 165. Find the rate percent per annum.

    a) 20 % b) 2.5 % c) 5 % d) 15 % e) 7.5%

    Q.6.The simple interest on a sum of money for 2 years is Rs. 150 and the compound interest on the same sum at same rate for 2 years is Rs. 155. The rate % p.a. is

    a) 16 % b) 20/3 % c) 12 % d) 10 % e) None of these

    Q7.Mihir’s capital is 5/4 times more than Tulsi’s capital. Tulsi invested her capital at 50 % per annum for 3 years (compounded annually). At what rate % p.a. simple interest should Mihir invest his capital so that after 3 years, they both have the same amount of capital?

    a) 20/3 % b) 10 % c) 50/3 % d) 1.728 % e) None of these

    Q8.The difference in simple interest and compound interest on a certain sum of money in 3 years at 10 % p.a. is Rs. 372. The sum is

    a) Rs. 8000 b) Rs.9000 c) Rs. 10000 d) Rs. 12000 e) None of these

    Q9.Sahil’s capital is 1/6 times more than Chaya’s capital. Chaya invested her capital at 20 % per annum for 2 years (compounded annually). At what rate % p.a. simple interest should Sahil invest his capital so that after 2 years, they both have the same amount of capital?

    a) 10% b) 11 5/7% c) 20% d) 13 5/7% e) None of these

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    Q10.The difference in simple interest and compound interest on a certain sum of money in 3 years at 20 % p.a. is Rs. 640. The sum is

    a) Rs. 5000 b) Rs. 8500 c) Rs. 8250 d) Rs. 6000 e) None of these

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    [Solved] If the difference between the compound and simple interest o

    Given CI - SI = Rs.160 Time  = 2 years Rate = 8% Formula used (CI - SI)2 years = (PR2)/ (100)2 CI = Compound Interest SI = Simple Interest

    Home Quantitative Aptitude Interest

    Question

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    If the difference between the compound and simple interest on a certain sum of money for 2 years at 8% per annum is Rs. 160, find the sum.

    This question was previously asked in

    SSC Graduation Level Previous Paper (Held on: 14 Dec 2020 shift 3)

    Download PDF Attempt Online

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    Rs. 28,000 Rs. 24,000 Rs. 20,000 Rs. 25,000

    Answer (Detailed Solution Below)

    Option 4 : Rs. 25,000

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    Detailed Solution

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    Given

    CI - SI = Rs.160 Time  = 2 years Rate = 8%

    Formula used

    (CI - SI)2 years = (PR2)/ (100)2

    CI = Compound Interest

    SI = Simple Interest

    P = Principal R = Rate

    Calculation

    160 = (P × 82)/(100)2

    ⇒ 160 = (64P)/10000

    ⇒ P = (160 × 10000)/64

    ∴ Principal is Rs.25,000

    Alternate Method 8% = 160 1% = 20

    100% = 2000 For 1 year

    8% = 2000 1% = 250 100% = 25,000

    ∴ Principal will be Rs.25,000

    Download Solution PDF

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