Question

calculate the difference between compound interest and simple interest for 2 years on rupees 8500 at 6% per annum

Answer 1

hope that u understand

Answer 2

The difference between compound interest and simple interest for 2 years on rupees 8500 at 6% per annum is Rs.30.6

Step-by-step explanation:

Principal= Rs.8500

Rate of interest = 6% = 0.06

Time = 2 years

Case 1: Compound interest

Formula : $A=P(1+r)^t$

A=8500(1+0.06)^2

A=9550.6

Compound interest = Amount - Principal = 9550.6-8500=Rs.1050.6

Case 2:Simple interest

Formula :$SI = \frac{P \times T \times R}{100}$

$SI = \frac{8500 \times 2 \times 6}{100}$

SI =1020

Difference between compound interest and simple interest for 2 years on rupees 8500 at 6% per annum = 1050.6-1020=Rs.30.6

Hence the difference between compound interest and simple interest for 2 years on rupees 8500 at 6% per annum is Rs.30.6

#Learn more:

Compute the compound interest on:

(i) 1500 for 2 years at 6% per annum.

(ii) 2860 for 2 years at 5% per annum.

(iii) *3000 for 2 years at 5% per annum.

(iv) *8500 for 2 years at 8% per annum.​

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