Question

find the difference between simple interest and compound Interest on₹ 20000 at 8 p.c.p.a​

Answer 1

Answer:

we know that SI =P*R*T/100

Step-by-step explanation:

ISE SE LAGA DALO

Answer 2

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Difference between Simple interest and compound interest is Rs. 128.

Step-by-step explanation:

Given: P = Rs. 20000

R = 8% p.a.

T = 2 years

To find: Difference between Simple interest and compound interest

Simple Interest is give by following formula,

$SI=\frac{P\times R\times T}{100}$

$=\frac{20000\times8\times2}{100}$

$=200\times8\times2$

=3200

Simple Interest = Rs. 3200

Compound interest is given by following formula,

CI = A - P

Interest is compounded annually

$A=P\times(1+\frac{R}{100})^n$

$A=20000\times(1+\frac{8}{100})^2$

$A=20000\times(\frac{108}{100})^2$

$A=20000\times\frac{108}{100}\times\frac{108}{100}$

$A=2\times108\times108$

A=23328

CI = 23328 - 20000

= Rs. 3328

⇒ CI - SI = 3328 - 3200 = Rs. 128

Therefore, Difference between Simple interest and compound interest is Rs. 128.