find the difference between the simple interest and compound interest on Rupees 625 for 2 years at the rate of 4% per annum
Answers
Answer:
Principal = 625 Principal = 625 Time = 2 years Time = 2 years
Rate = 4% Rate = 4%
Therefore: Therefore:
SI = (P * R * T)/100 A = P* (1 + R/100)^ T
=> (625 * 4 * 2)/100 => 625* (1 + 4/100)^ 2
=> Rupees 50 => 625 * 104/100 * 104/100
=> Rupees 676
CI = 676 - 625 = Rupees 51
Difference = CI - SI
51 - 50
Rupees 1 (Answer)
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