Question

18. Find the difference between compound interest
and simple interest on 8,000 in 2 years and
at 5% per annum.​

Answer 1

Answer:

$We have,</p><p></p><p>P=Rs.8000,T=2 years,R=5%</p><p></p><p>We know that,</p><p></p><p>SI=100P×R×T</p><p></p><p>or, SI=1008000×5×2</p><p></p><p>or, SI=Rs.800</p><p></p><p>We know that,</p><p></p><p>A=CI+P=P(1+100R)T</p><p></p><p>or, CI+8000=8000(1+1005)2</p><p></p><p>or, CI+8000=8000(1+201)2</p><p></p><p>or, CI+8000=8000(2021)2</p><p></p><p>or, CI+8000=8820</p><p></p><p>or, CI=Rs.820</p><p></p><p>Therefore, the required difference</p><p></p><p>CI−SI=820−800</p><p></p><p>=Rs.20</p><p></p><p>$

Step-by-step explanation:

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