Question

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

Answer 1

Answer:

Rs. 40.50

Step-by-step explanation:

Simple interest = pnr

= 5000×2×(9/100)

= 900

Total amount compounded after 2 years

= p(1+r/100)^2

= 5000 (1+9/100)^2

= 5000 (109/100)^2

= 5000 (109/100) (109/100)

= 5940.50

So, compound interest = (5940.50 - 5000)

= 940.50

Hence, the difference between the simple interest and the compound interest = (940.50 - 900) = Rs. 40.50