find the difference between the simple interest and the compound interest on the 5,000 for 2 years at 9% per annum
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Answered by
3
Answer:
hii
how are you
Step-by-step explanation:
principal = Rs. 5000
rate = 9%
time = 2years
now,
amount = p(1+r/100)^n
= 5000*109/100*109/100
= 59405/10
= 5940.5
compound interest = A-P
= 5940.5-5000
= 940.5
then,
simple interest = P*R*T/100
= 5000*9*2/100
= 900
difference = compounded interest - simple interest
= 940.5-900
= 40.5
thus, difference is 40.5.
you can also refer to the attached file for your answer
hope it helps you
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6
Answer:
the above answer is correct
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it's Mr.Jatt
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