Question

find the difference of compound interest over the simple interest for the sum of Rs.8000 at 10% rate of interest for 2 years.
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Answer 1

Answer:

As given. sum of Rs 8000 lent at 10% p.a. in 2 years. Put in the above.

Solving the above.

Simple interest = Rs 1600. Formula.

Here Rate is in the decimal form. 10% is written in the decimal form.

= 0.10. Put in the above.

Amount = Rs 9680. Amount = Principle + Interest. Putting the value.