Question

. Find the compound interest charged by a bank on
an amount of Rs 4000 for 2 years at 11.5% per
annum. By how much will the interest differ if the
bank charges simple interest at the same rate?​

Answer 1

Answer:

c.i=972.9

intrest difference=1.3225%

Step-by-step explanation:

for 2 years 11.5% total interest R=11.5+11.5+11.5×11.5/100

R=24.3225%

so c.i=24.3225% of 4000=972.9rs

for s.i total intrst per 2 years =11.5×2=23

difference between c.i and si=24.3225-23=1.3225%

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