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A sum of Rs. 8,000 is deposited for 3 years at 5% per annum compound interest (compounded annually). The difference of interest for 3 years and 2 years will be5
Q: A sum of Rs. 8,000 is deposited for 3 years at 5% per annum compound interest (compounded annually). The difference of interest for 3 years and 2 years will be
- 1Rs. 387false
- 2Rs. 441true
- 3Rs. 469false
- 4Rs. 503false
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Answer : 2. "Rs. 441"
Explanation :
Answer: B) Rs. 441 Explanation: Given principal amount = Rs. 8000 Time = 3yrs Rate = 5% C.I for 3 yrs = 8000 x 105100 x 105100 x 105100 - 8000= Rs. 1261 Now, C.I for 2 yrs = 8000 x 105100 x 105100= Rs. 820 Hence, the required difference in C.I is 1261 - 820 = Rs. 441