Find the difference between the compound interest and the simple interest on an amount of Rs.15000 at 8% per annum for 2 years.
Rs. 96
This means compound interest grows faster than simple interest over time. This is because, in compound interest, the interest earned in the first period is added to the principal, and the interest for the second period is calculated on this new, larger amount. Therefore, the correct answer is Rs. 96.
Important Questions from Simple and Compound Both
X took a loan of Rs.1400 with simple interest for as many years as the rate of interest. If he paid Rs.1210 as interest at the end of that period, what was the rate of interest?
The S.I. on a certain sum of money for 4 years at 4 percent per annum exceeds the C.I. on the same sum for 3 years at 5 percent per annum by Rs. 57. Find the approximate sum.
The simple and compound interest that can be earned in two years at the same rate on a certain sum is Rs. 1,000 and Rs. 1,040 respectively. What is the rate (percent per annum) of interest?
Compound interest on a certain sum of money for 2 years at a rate of 'r' per cent per annum (compounding annually) is Rs. 8385. Simple interest on the same sum at the same rate for 2 years is Rs 7800. What is the value of r?
The compound interest accrued on Rs. 18000 in two years is Rs. 2995.2. What will be the simple interest accrued at the same rate of interest for the same sum for three years?
