Question

Find the difference between compound interest and simple interest on Rs 30000 at 12% per annum for 2years.​

Answer 1

Answer:

Rs.432

Step-by-step explanation:

Compound interest

A= p(1+r/100)n

A= 30000(1+12/100)n

A= 30000(112/100*112/100)

A= 30000*1.2544

A= 37632

I = A-P

I= 37632-30000

I= 7632

Simple interest

I= ptr/100

or,I= 30000*2*12/100

or,I=7200

Difference= 7632-7200

=Rs.432