Question

Find the difference between the compound interest and simple intetest on rs 5000 for two yrs at 5%pa

Answer 1

P=5000
T=2y
R=5%

so SI=5000×5×2/100
500

CI=5000{1+5/100}^2 -1
5000×41/400
512.50

So difference=CI-SI
=512.50-500
=12.50 ans....