find the diifference between the compound interest and simple interest on Rs 20000 for 2 years at an rate of 8 % compounded annualy. plz answer fast exam is there
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p=20000 ; r=8% ; t or n=2years
simple interest let be si
compound interest let be ci
si=20000*8*2/100 = 3200
ci=20000(1+8/100)² - 20000
=23328 - 20000
=3328
difference = 3328 - 3200
=128
so the ans is 128
simple interest let be si
compound interest let be ci
si=20000*8*2/100 = 3200
ci=20000(1+8/100)² - 20000
=23328 - 20000
=3328
difference = 3328 - 3200
=128
so the ans is 128
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