Question

3. Find the difference between the simple interest and the compound interest on 5000 for 2
years at 9% per annum.​

Answer 1

Answer:

difference between the two interests are

one is simple interest and another is compound interest.

Answer 2

Answer:

difference is 40.5.

Step-by-step explanation:

principal = Rs. 5000

rate = 9%

time = 2years

now,

amount = p(1+r/100)^n

= 5000*109/100*109/100

= 59405/10

= 5940.5

compound interest = A-P

= 5940.5-5000

= 940.5

then,

simple interest = P*R*T/100

= 5000*9*2/100

= 900

difference = compounded interest - simple interest

= 940.5-900

= 40.5

thus, difference is 40.5.