(B) For $A$ (Simple Interest):$SI = \frac{P \times R \times T}{100} = \frac{6000 \times 5 \times 2}{100} = Rs. 600$.For $B$ (Compound Interest):Amount

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

(B) For $A$ (Simple Interest):$SI = \frac{P \times R \times T}{100} = \frac{6000 \times 5 \times 2}{100} = Rs. 600$.For $B$ (Compound Interest):Amount $= P \left(1 + \frac{R}{100}\right)^n = 5000 \left(1 + \frac{8}{100}\right)^2 = 5000 \left(\frac{108}{100}\right)^2 = 5000 \times 1.1664 = Rs. 5832$.$CI = \text{Amount} - P = 5832 - 5000 = Rs. 832$.Difference between their interests $= 832 - 600 = Rs. 232$.

Competitive Quantitative Aptitude Interest Compound Interest

Medium

$A$ deposited $Rs. 6000$ in a bank at $5 \%$ per annum simple interest. $B$ deposited $Rs. 5000$ at $8 \%$ $p.a.$ compound interest. After $2$ years,the difference between their interests (in $Rs.$) will be:

A
$230$
B
$232$
C
$600$
D
$832$

Explore More

Browse All

Question Bank

All Subjects

Competitive Questions

Competitive

Quantitative Aptitude Questions

Chapter

Interest

Subtopic

Compound Interest

The difference between the simple interest on a certain sum at the rate of $10 \%$ per annum for $2$ years and compound interest which is compounded every $6$ months is ₹ $124.05$. What is the principal (in ₹)?

Difficult

View Solution

What will be the difference between simple and compound interest (in ₹) at $10 \%$ per annum on a sum of ₹ $1000$ after $4$ years?

Medium

View Solution

If $64000$ is deposited at $5 \%$ compound interest for a period of $18$ months,interest being compounded half-yearly,find the amount.

Easy

View Solution

$A$ sum of ₹ $1260$ is borrowed from a money lender at $10 \%$ p.a. compounded annually. If the amount is to be paid back in two equal annual instalments,find out the annual instalment (in ₹).

Medium

View Solution

Divide $Rs. 2602$ between $X$ and $Y$,so that the amount of $X$ after $7 \,yr$ is equal to the amount of $Y$ after $9 \,yr$,the interest being compounded at $4 \%$ per annum.

Difficult

View Solution

Vedclass Products

For Students

Vedclass Test Series

Mock tests in real JEE/NEET style with performance analysis. 5-day free trial.

Start Free Trial

For Teachers

Exam Paper Generator

Generate Set A/B/C/D exam papers from 7.5L+ questions in 2 minutes. 3 chapters free.

Try Free

For Institutes

Online Exam Module

Live online exams with unlimited students, 360° analytics & white-label branding.

See Demo

$A$ deposited $Rs. 6000$ in a bank at $5 \%$ per annum simple interest. $B$ deposited $Rs. 5000$ at $8 \%$ $p.a.$ compound interest. After $2$ years,the difference between their interests (in $Rs.$) will be:

Similar Questions

The difference between the simple interest on a certain sum at the rate of $10 \%$ per annum for $2$ years and compound interest which is compounded every $6$ months is ₹ $124.05$. What is the principal (in ₹)?

What will be the difference between simple and compound interest (in ₹) at $10 \%$ per annum on a sum of ₹ $1000$ after $4$ years?

If $64000$ is deposited at $5 \%$ compound interest for a period of $18$ months,interest being compounded half-yearly,find the amount.

$A$ sum of ₹ $1260$ is borrowed from a money lender at $10 \%$ p.a. compounded annually. If the amount is to be paid back in two equal annual instalments,find out the annual instalment (in ₹).

Divide $Rs. 2602$ between $X$ and $Y$,so that the amount of $X$ after $7 \,yr$ is equal to the amount of $Y$ after $9 \,yr$,the interest being compounded at $4 \%$ per annum.

Vedclass Test Series

Exam Paper Generator

Online Exam Module