Find the difference between the compound interest and simple interest on a sum of Rs
50,000 at 10% per annum for 2 years.
Answers
Answered by
15
Answer:
HI HERE'S YOUR ANSWER
Step-by-step explanation:
Given
P : 50,000
R : 10 %
N : 2 yearsn the interest is
We know that amount A at the end of n years at the rate R% per annum when the interest is
Compound anuallly is given by A = P (1 + R /100)
therefore A = Rs 50,000(1.1)²
= Rs 60,500 -50,000
=Rs 10,500
We know that
SI =PRT/100
50,000×10× 2/100
= Rs 10,000
Therefore difference between Ci and Si = Rs 10,500 - Rs 10,000
= Rs 500
HOPE IT HELPS YOU
Similar questions