Question

Find the difference between simple interest and compound interest on RS.4800 for 2years at 5% per annum, compound interest being reckoned annually.

Answer 1

_______✨ HEY MATE ✨_______

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SOLUTION :-
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SI = P*R*T/100
SI = 4800*2*5/100 = ₹480

Now , A = P(1+R/100)N
A = 4800(1+5/100)2
A = 4800*105/100*105/100
A = ₹5292
CI = A - P
CI = ₹5292 - ₹4800
CI = ₹492

Difference between Compound Interest and Simple Interest after 2 years = 492 - 480 = ₹12 ( Answer )

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Answer 2

CI=₹492 IT'S A RIGHT ANSWER