Math, asked by zenangel, 11 months ago


babita invested a sum of money for 2 years at 4% per annum simple
and earned Rs 480 as the interest. How much more amount
would she get if interest was compounded annually?

Answers

Answered by rabs6
1

Answer:

Babita would gave got Rs. 9.60 more more money if the interest was compounded annually.

Step-by-step explanation:

Sum of money ( principal)

= (S.I × 100)/( r × t)

= 480× 100/ 2 × 4

= Rs. 6000

Compound interest

= P(1+r/100)^n -P

= 6000( 1+ 4/100)^2 - 6000

= 6000× 104/ × 104/100 - 6000

= 6489.6 - 6000

= Rs. 489.60

Compound interest - Simple interest

= 489.60 - 480

= Rs. 9.60

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