Calculate the difference between compound interest and simple interest on Rs 25000 for 2 years at 10 % per annum .
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Answer:
Step-by-step explanation:
SI =( p×R×T)/100
SI = (25000×8%×2)/100
SI = 500×8 =4000
SI = 4000
A=p (1+r%/100)^2
A=25000 (1+8%/100)^2
A = 25000 (108/100)^2
A=25000×108/100×108/100
A = 5×54×108
A=29160
CI=A-P
CI =29160-25000=4160
CI = 4160
CI - SI
4160-4000 = 160
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