The difference between compound and simple interest at 5% per annum for 4years on Rs. 20,000 is -(a) 250(b) 277(c) 300(d) 310
Question
The difference between compound and simple interest at 5% per annum for 4years on Rs. 20,000 is -(a) 250(b) 277(c) 300(d) 310
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Solution 1
To find the difference between compound and simple interest, we first need to calculate both separately.
- Simple Interest: The formula for simple interest is PRT/100, where P is the principal amount, R is the rate of interest, and T is the time in years. So, Simple Interest = (2000054)/100 = Rs 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.
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