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8th Class Mathematics Comparing Quantities Question Bank Comparing Quantities

  • question_answer
    The difference between the compound interest and simple interest on a certain sum of money at 10% per annum for 2 years is Rs. 500. Find the sum when the interest is compounded annually.

    A)  Rs. 50000                  

    B)  Rs. 55000

    C)  Rs. 40000      

    D)         Rs. G5000

    Correct Answer: A

    Solution :

    Let P be the principal. According to question, \[\text{C}\text{.I - S}\text{.I}\text{. = Rs}\text{. 500}\] \[\Rightarrow \left[ P{{\left( 1+\frac{10}{100} \right)}^{2}}-P \right]-\left[ \frac{P\times 10\times 2}{100} \right]=500\] \[\Rightarrow \frac{21}{100}P-\frac{1}{5}P=500\] \[\Rightarrow \frac{P}{100}=500\Rightarrow P=500\times 100=Rs.\,\,50000\]


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