0.24 Ravi invested 260.000 each in two banks for 2 years at the rate of 8%. 1st
Bank is giving simple intrest to him while 2nd bank is giving compound interest to
him with the same rate of interest on the invested money. Find the difference of
money Ravi got in the end as interest from both the banks,?? PlZ anybody give the answer soon
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Step-by-step explanation:
P= ₹260
t =2
r =8%
simple interest= p×r×t/100
= 260×2×8/100
=520×8/100
=41.6
compound interest = p(1+r/100) *n-p......( n is time).
= 260(1+8/100)*2-260
= 301.6
difference of money = 260
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