Question

Calculate the difference between the compound interest and the simple interest on rs 7,500 in two years and at 8% per annum.

Answer 1

P=7500
R=8%
T=2
Si=prt/100
Si=7500x8x2/100=1200₹
Now compound intrest
A=p(1+r/100)^1
A=7500(1+8/100)^2
A=7500(108/100)²
A=8748₹
Ci=A-p
Ci=8748-7500=1248
Difference =1248-1200=48₹
This is ur answer but I will solve it with a trick also
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Answer 2

Answer:

P=7500

R=8%

T=2

Si=prt/100

Si=7500x8x2/100=1200₹

Now compound intrest

A=p(1+r/100)^1

A=7500(1+8/100)^2

A=7500(108/100)²

A=8748₹

Ci=A-p

Ci=8748-7500=1248

Difference =1248-1200=48₹

Step-by-step explanation: