calculate the difference between the compound interest and the simple interest on Rs 2000 in 2 years at 8% per annum
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Answered by
0
Step-by-step explanation:
simple interest =ptr/100
SI=(200×2×8)/100=320
compound interest =p(1+r/100)^t
CI=2000(1+8/100)^2
CI=2(108/10)×108=2332.8
CI=2332.8+2000=4332.8
CI-SI=4332.8-320=4012.8
Answered by
2
Answer:
Simple Interest:
Future Value= Present value (1+rn)
FV= 2000 {1+0.08(2)} = 2320
Compound Interest:
Future value= Present Value (1+r)^n
FV= 2000 (1.08)^2 = 2332.8
Difference: 2332.8-2320= 12.8
Step-by-step explanation:
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