Math, asked by kantakacholia, 2 months ago

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

Answers

Answered by Jiya6282
2

\red{\textbf{The difference =6}}

Step-by-step explanation:

SI  =\LARGE \frac{P*R*T}{100}

SI = \LARGE \frac{2400 \times 2 \times 5}{100}

SI = 240

Compound  \: interest:

Interest  \: for \:  first \:  year   =

\LARGE \frac{2400 \times 5 \times 1}{100} \small = 120

Amount  \: after \:  first  \: year  =

=2400+120=2520

Interest  \: for \:  second \:  year   =

\LARGE \frac{2500 \times 5 \times 1}{100}

 = 126

Amount  \: after \:  first  \: year  =2520+126=2646

Hence \:  compound  \: interest  =2646 - 2400=246

Difference  \: between \:  CI \:  and SI =246 - 240=6

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