Question
Download Solution PDFWhat is the difference between compound interest and simple interest for 2 years on the sum of Rs. 6,800 at 15% per annum?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDF
Time (T) = 2 years
Rate (R) = 15 % per annum
Principal (P) = Rs 6800
Compound Interest (CI) – Simple Interest (SI) =?
Formula used:-
⇒D = PR2 / 1002 , [D = Difference between Compound Interest & Simple Interest ]
Calculation:-
⇒ D = 6800 × 225 /10000
⇒ D = 153
∴The required value of D is 153.
If the difference between compound and simple interest is of three years,
Difference = 3 x P(R)²/(100)² + P (R/100)³.
Last updated on Jun 12, 2025
-> The SSC GD Notification 2026 will be released in October 2025 and the exam will be scheduled in the month of January and February 2026.
-> The SSC GD Merit List is expected to be released soon by the end of April 2025.
-> Previously SSC GD Vacancy was increased for Constable(GD) in CAPFs, SSF, Rifleman (GD) in Assam Rifles and Sepoy in NCB Examination, 2025.
-> Now the total number of vacancy is 53,690. Previously, SSC GD 2025 Notification was released for 39481 Vacancies.
-> The SSC GD Constable written exam was held on 4th, 5th, 6th, 7th, 10th, 11th, 12th, 13th, 17th, 18th, 19th, 20th, 21st and 25th February 2025.
-> The selection process includes CBT, PET/PST, Medical Examination, and Document Verification.
-> The candidates who will be appearing for the 2025 cycle in the exam must attempt the SSC GD Constable Previous Year Papers. Also, attempt SSC GD Constable Mock Tests.