What is the difference between the compound interest and simple interest on Rs. 4000 for 2 years at the rate of 5% per annum?OptionsRs. 20Rs. 10Rs. 8Rs. 12
Question
Solution 1
First, let's calculate the Simple Interest (SI) and Compound Interest (CI) separately.
The formula for Simple Interest is SI = (PRT)/100, where P is the principal amount, R is the rate of interest, and T is the time in years.
So, SI = (400052)/100 = Rs. 400
The formula for Compound Interest i Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
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