Question

find the difference between the simple interest and the compound interest on rupees 5000 for 2 years at 8% per annum​

Answer 1

Answer:

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Step-by-step explanation:

P- ₹5000

R- 8%

T- 2 yrs

For 1st year--

At Simple Interest

P= ₹5000

I= ₹5000×8×1/100

=₹400

Amount=₹5000+₹400

=₹5400

At compound Interest

P= ₹5000

I= ₹5000×8×1/100

= ₹400

Amount= ₹5000+₹400

=₹5400

For 1st year :C.I =S.I

For 2nd year--

At Simple Interest

P= ₹5000

I=₹5000×8×1/100

= ₹400

Amount=₹5000+₹400

=₹5400

At Compound Interest---

P=₹5000

I=₹5400×8×1/100

=₹432

Amount=₹5400+₹432

= ₹5832

For 2nd year:C.I is more than the S. I

Every year C. I. increases but the S. I. remains the same.