Question

Find the difference between the compound interest and simple interest on ₹12000 for 2 years at 10% per annum compounded annually

Answer 1

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Step-by-step explanation:

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Answer 2

Answer:

₹120

Step-by-step explanation:

Given,

p=12000   n=2   r=10

SI = pnr/100  =(12000*2*10)/100   =2400

CI=Amount-p

=p(1+r/100)^n - p

=12000(1+10/100)^2 - 12000

=12000(110/100)^2 - 12000

=(120*11*11)-12000

=14520-12000

=2520

Difference = CI - Si

                           =2520-2400

                            =120