On what sum of money will the difference between S.I and C.I of 2 years at 5% per annum be equal to rupees 63?

Compound Interest

Aptitude

1. On what sum of money will the difference between simple interest and compound interest for 2 years at 5% per annum be equal to Rs. 63?

1. 1. Rs. 24,600
   2. Rs. 24,800
   3. Rs. 25,200
   4. Rs. 25,500

Correct Option: C

Given that , Difference = C.I. - S.I. = ₹ 63 , Time = 2 years , Rate = 5%
Using the given formula ,

⇒  P = 400 × 63 = ₹ 25200

On what sum of money does the difference between the simple interest and compound interest in 2 years at 5 % is ₹ 15

Solution

Let the sum of money =x

Simple interest in 2 years =P×R×T100

where P= Principal =x, Rate, R=5% and Time, T=2 years

so Simple Interest =x×5×2100=0.1x

Compound interest:

Amount after 1 year =x+5% of x=1.05x

Amount after 2 years =1.05x+5%(1.05x)=1.05x+0.0525x=1.1025x

So compound interest after 2 years =1.1025x−x=0.1025x

Difference of compound interest and simple interest =0.1025x−0.1x=0.0025x

This difference in interest is given as Rs.15.

So 0.0025x=15

⇒x=150.0025=Rs.6000

Hence, the sum is Rs. 6000

On what sum of money will the difference between SI and CI for 2 years at 5% pa be equal to Rs 63?

On what sum of money will the difference between SI and CI for 2 years at 5 per annum be equal to 25?

On what sum of money will CI for 2 years at 5% a year to Rs 164?

What is the formula of difference between CI and SI for 2 years?