Fill in the blanks to make the statement true.The difference of intere

1.	Fill in the blanks to make the statement true.The difference of interest for 2 years and 3 years on a sum of ₹ 2100 at 8% per annum is _________.
Answer» The difference of interest for 2 years and 3 years on a sum of ₹ 2100 at 8% per annum is ₹ 168. From the question it is given that, P = ₹ 2100 Time = 2 years Rate = 8% Then, we know the formula of Simple interest I = (P × R × T)/100 I = (2100 × 2 × 8)/100 I = 33600/100 I = ₹ 336 Then, Time = 3 years I = (P × R × T)/100 I = (2100 × 3× 8)/100 I = 50400/100 I = ₹ 504 The difference of interest for 2 years and 3 years = 3 years – 2 yeas = ₹ 504 – ₹ 336 = ₹ 168

Fill in the blanks to make the statement true.The difference of interest for 2 years and 3 years on a sum of ₹ 2100 at 8% per annum is _________.

Answer»

The difference of interest for 2 years and 3 years on a sum of ₹ 2100 at 8% per annum is ₹ 168.

From the question it is given that,

P = ₹ 2100

Time = 2 years

Rate = 8%

Then, we know the formula of Simple interest I = (P × R × T)/100

I = (2100 × 2 × 8)/100

I = 33600/100

I = ₹ 336

Then,

Time = 3 years

I = (P × R × T)/100

I = (2100 × 3× 8)/100

I = 50400/100

I = ₹ 504

The difference of interest for 2 years and 3 years = 3 years – 2 yeas

= ₹ 504 – ₹ 336

= ₹ 168