Question

Calculate the difference between the compound interest and the simple interest on ₹20000 in 2 years at 8% per annum.

Answer 1

see the attachment and please make the answer as brainlist answer

Answer 2

Answer:

Step-by-step explanation:

P = 20000

R= 8%

T= 2years

S.I = P×R×T/100

=20000×8×2/100

=3200

C.I = P(1+r/100)^n-P

=20000(1+8/100)^2 -20000

=20000(108/100)^2 -20000

=20000×108/100 ×108/100 -20000

=23328-20000

=3328

Required ans= 3328-3200

=128