What is the difference between simple and compound interest at 10% per annum on a sum of Tk. 6000 at the end of 2 years?


A

Tk. 120


B

Tk. 90


C

Tk. 60


D

Tk. 75


উত্তরের বিবরণ

img

Question: What is the difference between simple and compound interest at 10% per annum on a sum of Tk. 6000 at the end of 2 years?

Solution:
Principal (P) = Tk. 6000
Rate (r) = 10% per annum
Time (n) = 2 years

Simple Interest (SI):
SI = (P × R × T)/100
= (6000 × 10 × 2)/100
= 120000/100
= Tk. 1200

Compound Interest (CI):
Amount (A) = P × (1 + r/100)n
= 6000 × (1 + 10/100)2
= 6000 × (1.1)2
= 6000 × 1.21
= Tk. 7260

∴ CI = A - P = 7260 - 6000
= Tk. 1260

∴ Difference between CI and SI = 1260 - 1200
= Tk. 60

Unfavorite

0

Updated: 1 day ago

Related MCQ

কোনো আসল 2 বছরের মুনাফা- আসলে 7000 টাকা হয়। মুনাফা আসলের 2/5 অংশ হলে মুনাফা হার কত?


Created: 9 hours ago

A

20%


B

15%


C

18%


D

25%


Unfavorite

0

Updated: 9 hours ago

The speed of a boat in still water is 9 km/h. The time it takes to travel downstream is half the time it takes to travel upstream. What is the speed of the stream?


Created: 1 day ago

A

3 km/h


B

2.5 km/h


C

4 km/h


D

3.5 km/h


Unfavorite

0

Updated: 1 day ago

How many years will Tk. 1500 need at 4% simple interest to earn the same interest as Tk. 2000 earns in 3 years at 5% simple interest?

Created: 1 month ago

A

4 years

B

5 years

C

6 years

D

8 years

Unfavorite

0

Updated: 1 month ago

© LXMCQ, Inc. - All Rights Reserved

Developed by WiztecBD