The difference between compound interest and simple interest on an amount of Rs.15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C

$[15000 \times {(1 + \frac{R}{100})}^{2} - 15000] - [\frac{15000 \times R \times 2}{100}] = 96 \Rightarrow R = 8 %$

Suggest Corrections

166

Similar questions

State whether the given statement is true or false.
The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. The rate of interest per annum is 8%.

The difference between compound interest and simple interest on an amount of ₹15,000 for 2 years is ₹96. What is the rate of interest per annum?

Q. Find the difference between Simple interest and Compound interest on Rs.

15, 000

for

2

years, at

10 %

per annum.

Q. What is the rate of interest p.c.p.a.?
I. An amount doubles itself in

5

years on simple interest.
II. Difference between the compound interest and the simple interest earned on a certain amount in

2

years is

R s . 400

.
III. Simple interest earned per annum is

R s . 2000

Find the difference between compound interest and simple interest on an amount of ₹ 15,000 for 2 years at 8 % per annum

Join BYJU'S Learning Program

The difference between compound interest and simple interest on an amount of Rs.15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

The correct option is C [15000×(1+R100)2−15000]−[15000×R×2100]=96⇒R=8%

The correct option is C

$[15000 \times {(1 + \frac{R}{100})}^{2} - 15000] - [\frac{15000 \times R \times 2}{100}] = 96 \Rightarrow R = 8 %$