gneet    TOPIC : Time value of money additional Number of questions are 15

Paper 4 eco detaied solutions
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QUESTION    2
ADDITIANAL QUESTION BANK
Q.1) The difference between compound and simple interest at 5% per annum for 4 years on ₹ 20,000 is ₹ ________

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Correct

P = 20,000 , R = 5% , n = 4 years.
First we will calculate simple interest.

Now to calculate CI , we will find Amount as

So CI = A - P
= 24310.13 - 20000
= 4310.13
Difference = CI - SI
= 4310.13 - 4000
= 310.13
= 310

ans: (d)



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