Find the difference between the simple interest and the compound interest on Rs 5000 for
2 years at 9% per annum.
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Answer:
Rs.40.5
Step-by-step explanation:
SI=P*R*T/100
=5000*9*2/100
=900
A=P(1+R/100)to the power n
=5000(1+9/100)to the power 2
A=Rs.5940.5
CI=A-P
=5940.5-5000
=940.5
Difference=CI-SI
=940.5-900
=Rs.40.5
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