Find the difference between simple interest and compound interest on 8400 at 9%p.a for 2 years, the compound interest being payable annually.
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P= Rs 8400
R= 8%
N= 2
SI= PRT/100
=8400*9*2/100
= 1512
CI= 8400[ {1+ 9/100} -1 }
= 8400[ 109/100 - 1]
= 8400 * 9/100
= 756
SI-CI= 1512-756
= 756
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