find the difference of compound interest over the simple interest for the sum of Rs.8000 at 10%.rate of interest for 2 years.
Answers
Answer:
Rs 80
Step-by-step explanation:
formula
simple interest= principle ×rate×time/100
As given
sum of Rs 8000 rent at 10% p.a in 2 years
put in above
simple interest= 8000×10×2/100
solving the above
simple interest= Rs = 160000/ 100
formula
amount= Principle (1+Rate ) ^time
here rate is in the decimal form.
10% is written in the decimal form
10/100
0.10
put in above
Amount = 8000(1+0.10)^2
Amount = 8000(1.10^2)
Amount =8000× 1.21
Amount = Rs 9680
Amount = principle + interest
Putting the value
9680 = 8000+ interest
interest= 9680-8000
interest= Rs 1680
Thus, the value of the compound interest is Rs 1680
difference between simple interest and compound interest= compound interest-simple interest
difference between simple interest and compound interest= Rs 1680- 1600
difference between simple interest and compound interest= Rs 80
therefore the difference between the compound and simple interest is Rs 80.
Answer:
8787783766 Danno chakma