Question

3. Find the difference between CI and SI on 20,000 at 12% p.a. for 2 years compounded annually.​

Answer 1

Answer:

288

Step-by-step explanation:

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Answer 2

Answer:

$rate \: of \: interest = 12\% \\ time = 2years \\ original \: principal = 20000 \\ \\ simple \: interest \\ \frac{p \times r \times t}{100} = \frac{20000 \times 12 \times 2}{100} \\ si = 4800 \\ \\ compound \: interest \: \\a = p(1 + \frac{r}{100} ) \\ a = 20000(1 + \frac{12}{100} ) \\ a = 25088 \\ ci = a - p \\ ci = 25088 - 20000 \\ ci = 5088 \\ \\ difference \: between \: ci \: and \: si \: \\ = 5088 - 4800 \\ = 288$

Step-by-step explanation:

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