6. Find the difference between S.I. and C.I. on
8400 at 9% p.a. for 2 years, the compound
interest being payable annually.
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Answer:
S.I. = P×R×T
_______
100
8400×9×2
________
100
= 84×9×2= 1512
C.I.= P{1+R}^N
_______
100
= 8400{1+9} ^2
__
100
= 8400{ 109} ^2
____
100
8400×109×109
_____
100×100
998004
______
100
9980.04
difference = C.P - S.P.
= 9980.04-1512
= 8468.04
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