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what is the difference between the simple interest and compound interest payable on a principal of rupees 1250 in 2 years at the rate of 10%. ?
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Answer:
12.5
Step-by-step explanation:
We have,
Principal = 1250, R = 10%, n = 2 years.
(i) Compound Interest:
A = P(1 + r/100)ⁿ
= 1250(1 + 10/100)²
= 1250(110/100)²
= 1250(11/10)²
= 1512.5
CI = A - P
= 1512.5 - 1250
= 262.5
(ii) Simple Interest:
= PTR/100
= 1250 * 2 * 10/100
= 250
Difference = 262.5 - 250
= 12.5
Hope it helps!
Topperworm:
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