Manish took two loans for Rs.2000 each for 2 years at 5% Simple Interest and 5% Compound Interest per annum respectively. Calculate the difference (in Rs.) between the Compound Interest and Simple Interest.
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Answer:
SI =
=(2000×2×5)÷100
=20×2×5
=40×5
=200
AMT.= P+SI
=2000+200
= 2200
AMT. =
= 2000 ×21÷20 ×21÷20
=5×441
=2205
DIFFERENCE BETWEEN CI AND SI IS 5
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find it on your own..............ok
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