answer the question .!!!!
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Given :
Principal, (P) = Rs.40
Rate, (R) = 10% p.a
Time, (T) = 4 years
Explanation :
As we know that Formula of the Simple Interest & compound Interest:
Simple Interest = principal×Rate × Time/100
A = P(1 + R/100)^n
According to the question :
➝ Simple Interest = PRT/100
➝ Simple Interest = 40 × 10 × 4/100
➝ Simple Interest = 1600/100
➝ Simple Interest = Rs.16
&
➝ A = P(1 + R/100)^n
➝ A = 40(1 + 10/100)⁴
➝ A = 40(1 + 1/10)⁴
➝ A = 40(10 + 1/10)⁴
➝ A = 40(11/10)⁴
➝ A = 40 × 11/10 × 11/10 × 11/10 × 11/10
➝ A = 585640/10000
➝ A = Rs.58.56
As we know that Compound Interest :
➝ C.I = Amount - Principal
➝ C.I = Rs.58.56 - Rs.40
➝ C.I = Rs.18.56
Now,
Difference = C.I - S.I
Difference = Rs.18.56 - Rs.16
Difference = Rs.2.56
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