Class 10 Exam  >  Class 10 Questions  >  What will be the difference between simple in... Start Learning for Free
What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.
  • a)
    Rs 15
  • b)
    Rs 20
  • c)
    Rs 30
  • d)
    Rs 10
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
What will be the difference between simple interest and compound inter...
Using formula
Free Test
Community Answer
What will be the difference between simple interest and compound inter...
Calculation of Simple Interest:
Simple Interest (SI) = P * R * T / 100
SI = 6000 * 5 * 2 / 100
SI = 6000 * 0.1
SI = Rs 600

Calculation of Compound Interest:
Compound Interest (CI) = P * (1 + R/100)^T - P
CI = 6000 * (1 + 5/100)^2 - 6000
CI = 6000 * (1.05)^2 - 6000
CI = 6000 * 1.1025 - 6000
CI = 6615 - 6000
CI = Rs 615

Difference between Compound Interest and Simple Interest:
Difference = CI - SI
Difference = Rs 615 - Rs 600
Difference = Rs 15
Therefore, the difference between compound interest and simple interest on a sum of Rs 6000 in 2 years at the rate of interest of 5% p.a. is Rs 15. The correct answer is option 'A'.
Attention Class 10 Students!
To make sure you are not studying endlessly, EduRev has designed Class 10 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 10.
Explore Courses for Class 10 exam

Top Courses for Class 10

What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.a)Rs 15b)Rs 20c)Rs 30d)Rs 10Correct answer is option 'A'. Can you explain this answer?
Question Description
What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.a)Rs 15b)Rs 20c)Rs 30d)Rs 10Correct answer is option 'A'. Can you explain this answer? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.a)Rs 15b)Rs 20c)Rs 30d)Rs 10Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.a)Rs 15b)Rs 20c)Rs 30d)Rs 10Correct answer is option 'A'. Can you explain this answer?.
Solutions for What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.a)Rs 15b)Rs 20c)Rs 30d)Rs 10Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 10. Download more important topics, notes, lectures and mock test series for Class 10 Exam by signing up for free.
Here you can find the meaning of What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.a)Rs 15b)Rs 20c)Rs 30d)Rs 10Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.a)Rs 15b)Rs 20c)Rs 30d)Rs 10Correct answer is option 'A'. Can you explain this answer?, a detailed solution for What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.a)Rs 15b)Rs 20c)Rs 30d)Rs 10Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.a)Rs 15b)Rs 20c)Rs 30d)Rs 10Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.a)Rs 15b)Rs 20c)Rs 30d)Rs 10Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Class 10 tests.
Explore Courses for Class 10 exam

Top Courses for Class 10

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev