model 4 difference in ci & si Section-Wise Topic Notes With Detailed Explanation And Example Questions
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The following question based on compound interest topic of quantitative aptitude
(a) 43.29
(b) 44
(c) 43.41
(d) 28.35
The correct answers to the above question in:
Answer: (c)
Using Rule 6,The difference between C.I. and S.I. on a sum 'P' in 2 years at the rate of R% rate of compound interest will beC.I - S.I. = P$(R/100)^2 = {S.I. × R}/200$ For 3 years, C.I. - S.I. = P$(R/100)^2 × (3 + R/100)$
Using Rule 1,If A = Amount, P = Principal, r = Rate of Compound Interest (C.I.), n = no. of years then,A=P$(1 + r/100)^n$, C.I. = A - PC.I. = P$[(1 + r/100)^n - 1]$
If the difference between compound interest and simple interest at the rate of r% per annum for 2 years be x, then
Principal = $x(100/r)^2$
= 28$(100/10)^2$ = Rs.2800
If the interest is compounded half yearly, then
r = $10/2$ = 5%,
Time = 4 half years
Simple interest
= ${2800 × 5 × 4}/100$ = Rs.560
Compound interest
= $2800[(1 + 5/100)^4 - 1]$
= 2800 [1.2155 - 1]
= 2800 × 0.2155 = 603.41
Difference = Rs.(603.41–560) = Rs.43.41
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Read more difference in ci and si Based Quantitative Aptitude Questions and Answers
Question : 1
On a certain sum of money lent out at 16% p.a. the difference between the compound interest for 1 year, payable half yearly, and the simple interest for 1 year is 56. The sum is
a) 5780
b) 1080
c) 8750
d) 7805
Answer »Answer: (c)
Using Rule 6,
Rate of interest = 8% per halfyear
Time = 2 half years
Difference of interests = ${PR^2}/100$
56 = $P × (8)^2/(100)^2$
P = ${56 × 10000}/64$ = 8750
Question : 2
The difference between simple and compound interest on a certain sum of money for 2 years at 4 per cent per annum is 1. The sum of money is :
a) 650
b) 600
c) 560
d) 625
Answer »Answer: (d)
Using Rule 6,
When difference between the CI and SI on a certain sum of money for 2 years at r % rate is x, then
Sum = x × $(100/r)^2$
= 1 × $(100/4)^2$ = Rs.625
Question : 3
A sum of 6,000 is deposited for 3 years at 5% per annum compound interest (compounded annually). The difference of interests for 3 and 2 years will be
a) 375.00
b) 75.00
c) 330.75
d) 30.75
Answer »Answer: (c)
Using Rule 1,If A = Amount, P = Principal, r = Rate of Compound Interest (C.I.), n = no. of years then,A=P$(1 + r/100)^n$, C.I. = A - PC.I. = P$[(1 + r/100)^n - 1]$
C.I. after 3 years
= 6000$[(1 + 5/100)^3 - 1]$
= 6000$({9261 - 8000}/8000)$
= 6000 × $1261/8000$ = Rs.945.75
CI after 2 years
= $6000[(1 + 5/100)^2 - 1]$
= 6000$({441 - 400}/400)$
= 6000 × $41/400$ = Rs.615
Required difference
= Rs.(945.75 - 615) = Rs.330.75
Question : 4
What sum will give 244 as the difference between simple interest and compound interest at 10% in 1 1 2 years compounded half yearly ?
a) 28,000
b) 40,000
c) 32,000
d) 36,000
Answer »Answer: (c)
Using Rule 6,
Time = $3/2 × 2 = 3$ half years
Rate = $10/2$ = 5% per half year
[Since, when r → $r/2$, then t → 2t]
Difference = P$(r^3/1000000 + {3r^2}/10000)$
244 = P$(125/1000000 + 75/10000)$
244 = P$(7625/1000000)$
P = ${244 × 1000000}/7625$ = Rs.32000
Question : 5
If the difference between S.I. and C.I. for 2 years on a sum of money lent at 5% is 6, then the sum is
a) 2000
b) 2200
c) 2600
d) 2400
Answer »Answer: (d)
Using Rule 6,The difference between C.I. and S.I. on a sum 'P' in 2 years at the rate of R% rate of compound interest will beC.I - S.I. = P$(R/100)^2 = {S.I. × R}/200$ For 3 years, C.I. - S.I. = P$(R/100)^2 × (3 + R/100)$
Difference = ${Pr^2}/10000$
6 = ${P × 5 × 5}/10000$
P = 6 × 400 = Rs.2400
Question : 6
Find the difference between the compound interest and the simple interest on 32,000 at 10% p.a. for 4 years.
a) 2501.20
b) 2051.20
c) 2025.20
d) 2052.50
Answer »Answer: (b)
Using Rule 1,
S.I. = $\text"Principal × Time × Rate"/100$
= ${32000 × 4 × 10}/100$ = Rs.12800
C.I. = P$[(1 + R/100)^4 - 1]$
= 32000$[(1 + 10/100)^4 - 1]$
= 32000 $[(1.1)^4$ - 1]
= 32000 (1.4641 - 1)
= 32000 × 0.4641= Rs.14851.2
Required difference
= 14851.2 - 12800 = Rs.2051.2
compound interest Shortcuts and Techniques with Examples
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model 1 basic compound interest using formula
Defination & Shortcuts … -
model 2 at ci sum becomes ‘n’ times after ‘t’ years
Defination & Shortcuts … -
model 3 combination of si & ci
Defination & Shortcuts … -
model 4 difference in ci & si
Defination & Shortcuts … -
model 5 ci with instalments
Defination & Shortcuts … -
model 6 comparing sum in different years
Defination & Shortcuts …
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