Question

1 A sum of Rs.8000 is deposited for 3 years at
5%per annum compound interest (compounded
annually). The difference of interest for 3 years
and 2 years will be:​

Answer 1

Answer:

Hence, the required difference in C.I is 1261 - 820 = Rs.

The difference between the compound interest (compounding annually) and simple interest on a sum at the rate of 12% per annum for 2 years is Rs 360.