Question

a man invested Rs16000 at a simple interest rate of 8% per annum for 2 years .Had he invested the sum at the compound interest rate of 8% per annum for the same period, how much more could he have earned?​

Answer 1

Step-by-step explanation:

first we want to find the simple interest on rupees 16000

S.I = 16000 × 8 × 2 /100

2560

then we will find the compound interest

C.I = A = 16000 (1+8/100) (1+8/100)

= 18662.4

C.I = 18662.4 - 16000

= 2662.4

102.4 rupees he could have earn more

Answer 2

hope it works well...thanks