Manish took two loans for rs 2000 each for 2 years at 5% simple interest and 5% compound interest per annum respectively calulate in diffrence between the compound interest and simple interest
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Step-by-step explanation:
For simple interest,
S.I = (P*R*T)/100
S.I = (2000*2*5)/100
S.I = ₹200
Amount for compound Interest
A = P(1 + R/100)
A = 2000*21/20*21/20
A = ₹2205
C.I = ₹205
Difference = ₹5
Answered by
1
simple interest
Answer:
s=p×r×t\100
2000×5×2/100
200
a=p+I
a=2000+200
2200
compound interest
a=p(1+r/100)^t
a=2000(1+5/100)^2
a=2000(21/20)^2
a=2000×21/20×21/20
a=2205
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