Question

Find Simple Interest on Rs. 200 at 5 % per annum for 2 years. *

Answer 1

Step-by-step explanation:

Simple Interest for 2 years@ 5% per annum = 200/-

Principal amount = 200/2/5%

= 2000

Compound interest at same rate for same period on same Principal shall be

2000 x (1+5%)^2

2000 x 1.1025

= 2205/-

Interest will be 205/-