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 ₹ ________

Q.1) The difference between compound and simple interest at 5% per annum for 4 years on ₹ 20,000 is ₹ ________

Try again

Try again

Try again

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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