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Multiple Choice Questions

The difference between the compound interest and simple interest on Rs 8000 for 2 years at 15 p...........

Quantitative Aptitude (HAS) Compound Interest

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The difference between the compound interest and simple interest on Rs. 8000 for 2 years at 15% per annum is

Rs. 180

Rs. 210

Rs. 150

None of these

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Explanation:

C.I.
A=p[1+r/100]^2
= 8000[1+15/100]^2
= 8000[100+15/100]^2
= 8000[115/100]^2
= 8000* 115/100* 115/100
= 10580
I = A - P
= 10580 - 8000
= 2580
S.I.
S.I. = P*R*T/100
= 8000 * 15 * 2/100
= 2400
Difference = C.I. - S.I. = 2580 - 2400
= 180

Hence, option 1 is the correct answer.

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The difference between the compound interest and simple interest on Rs 8000 for 2 years at 15 p...........

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