Question

find the difference of simple interest and compound interest on rs 8000 at 10% for 2 years

Answer 1

A= P ( 1+r/100)t
= 8000 (1+10/100)2
= 8000 (11/10)2
= 8000 (11/10×11/10)
= 9680 Rs
CI = A+P
= 9680+8000
= 17680 Rs