Question

find the difference between compound interest and simple interest on rs 8000 in 2 years at 5% p.a.

Answer 1

Principal=8000
Rate=5℅
Time =2 years
So,
$amount = 8000(1 + \frac{5}{100}) ^{2}$
$= 8000 \times \frac{105}{100} \times \frac{105}{100}$
=8820
CI= Amount-Principle
CI=8820-8000
CI=820
And,
$si = \frac{p \times r \times t}{100}$
$= \frac{8000 \times 2 \times 5}{100} = 800$
The difference between CI and SI
CI-SI=820-800
=20

Answer 2

20 is the answer of your question