Find the difference between simple interest and compound interest on 4,000 for two years at 10% per annum. certain sum of bona for
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Answer:
40
Step-by-step explanation:
Calculating S. I.
= prt/100
= 4000×10×2/100
= 800
And also, C. I.
= p(1 + r/100)ⁿ - p
= 4000(1 + 10/100)² - 4000
= 4000(11/10)² - 4000
= 4000(121/100) - 4000
= 40×121 - 4000
= 4840 - 4000
= 840
Difference between them is :-
= 840 - 800
= 40
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