Question

find the difference between simple interest and compound interest on rs 2400 for 2 years at 5% per annum compounded annually​

Answer 1

Answer:

difference=18.3

Step-by-step explanation:

l hope it will helps you.

Answer 2

Answer:

principal=2400

time=2years

rate of interest=5%

simple interest=PTR/100

simple interest=2400×2×5/100

=24×2×5

=240

Total amount=2400+240

=2640

compound interest=p(1+R/100)^2

= 2400(1+5/100)^2

=2400(100+5/100) ^2

=2400(105/100) ^2

=2400(21/20) ^2

=2400×21/20×21/20

=6×21×21

=2646

compound interest-simple interest

=2646-2640

=6/-