Difference between simple interest and compound interest (In ₹) on ₹ 600 for 1 year at 10 % per

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6.Interest

medium

The difference between the simple interest and the compound interest (In ₹) on ₹ $600$ for $1$ year at $10 \%$ per annum, reckoned half-yearly is

$1$

$1.5$

$2$

None of these

Solution

(b) $SI =\frac{600 \times 10 \times 1}{100}=₹ 60$

$\begin{aligned} CI &=600\left[\left(1+\frac{10}{100 \times 2}\right)^{2 \times 1}-1\right] \\ &=600\left[\left(\frac{21}{20}\right)^{2}-1\right]=\frac{600 \times 41}{20 \times 20}=₹ 61.50 \end{aligned}$

$\therefore \quad$ Difference $=₹(61.50-60)=₹ 1.50$

Standard 13

Quantitative Aptitude

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hard

The difference between the simple interest and the compound interest (In ₹) on ₹ $600$ for $1$ year at $10 \%$ per annum, reckoned half-yearly is

Solution

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