Question

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Answer it plz

Find the difference between the compound interest and the simple interest on rs 5,000 for two years at 5% per annum. 12.50 is answer

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Answer 1

Answer:

I hope that helps you to solve the sum

Answer 2

Answer: HI MATE!

               I HOPE THIS WOULD HELP ....

Step-by-step explanation:

P=RS.5000

R=5%

T=2 YEARS

Simple interest= Principal x Rate x Interest

                                           100

                        =  5000 x 5 x 2= Rs. 250

                                  100

Compound interest for the first year

Compound Interest=P=Rs. 5000

                                   R= 5%

                                    T=1 YEAR

                                  = 5000x 5 x 1 = Rs. 250

                                           100

    Amount = Principal + interest

                   = Rs. 5000+ Rs. 250=Rs . 5250

Compound Interest for the second year

P=Rs. 5250( The amount of the first year becomes the principal of the second year)

R=5%

T=1 Year

Compound Interest=  5250 x 5 x 1 =   525 = 262.5

                                          100.                 2

    Total compound interest= Interest for the first year + interest for the                            

                                                    secpnd year

                                              = 250 + 262.5 = 512.5

Difference between simple and Compound Interest= 512.5 - 500

                                                                                           = 12.50

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