calculate the difference between compound interest and simple interest on rs20000 in 2 years at 8% per annum
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3200
harshsharma14:
please do it in a copy and click a photo
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Simple interest=PRT/100 = 20000×8×2/100
=Rs 3200
Compound interest=P{(1+R/100)^T-1}
=20000{(1+8/100)^2-1}
=Rs3328
Therefore, the difference will be Rs 128.
HOPE IT WILL HELP YOU.....
=Rs 3200
Compound interest=P{(1+R/100)^T-1}
=20000{(1+8/100)^2-1}
=Rs3328
Therefore, the difference will be Rs 128.
HOPE IT WILL HELP YOU.....
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