Question

find the difference between the simple interest and compound interest on rupees 5000 for 2 years at 9% per annum

Answer 1

HEY THERE!!!

Question;-

find the difference between the simple interest and compound interest on rupees 5000 for 2 years at 9% per annum?

Method of Solution;-

Given:-

Principal (p) = 5,000

Rate (R) = 9%

Time = 2 years

To find;- Difference between the simple interest and compound interest.

Now, Using Formula!

=> P(R/100)ⁿ

Substitute the Given value in Equation;

P(R/100)ⁿ

=> 5000(9/100)²

=> 5000× 81/10000

=>405,000/10000

=> 40.5

Hence, 40.5 is the difference between the simple interest and compound interest on rupees 5000 for 2 years at 9% per annum.

Answer 2

Given:

compound interest on rupees 5000 for 2 years at 9% per annum.

P[r%/100)²

p[9/100)²

500[9/100)²

40.5