1) Calculate the difference between the compound
interest and the simple interest on 7,500Rs in 2 years
and at 8% per annum.
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Answer:
answer is 33.28
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Solution
P= Rs. 7500, R= 8% per annum, N= 2 years
Compound Interest= P(1 + R)n - P
= P[(1 + R)n - 1]
= 7500 (1.08 power 2 -1)
= Rs. 1248
Simple Interest= PNR/100
=7500* 8* 2/100
= Rs. 1200
Difference= 1248-1200= Rs. 48
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