What will be difference between simple and compound interest (In ₹) @ 10 % per annum on a sum of ?

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6.Interest

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

A

$31$

B

$32.10$

C

$40.40$

D

$64.10$

Solution

S.I. an ₹ $1000 @ 10 \%$ p.a. after 4 years

$=\frac{1000 \times 4 \times 10}{100}=₹ 400$

C.I. on ₹ $1000 @ 10 \%$ p.a. after 4 years.

$=1000\left[\left(1+\frac{10}{100}\right)^{4}-1\right]=1000\left[\left(\frac{11}{10}\right)^{4}-1\right]$

$=\frac{1000}{10^{4}}\left(11^{4}-10^{4}\right)=\frac{1000}{10000}(121+100)(11+10) 1$

$=\frac{1}{10} \times 221 \times 21=\frac{4641}{10}=₹ 464.10$

Hence C.I.- S.I. $=464.10-400=₹ 64.10$

Standard 13

Quantitative Aptitude

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