Principal = 5000, Rate = 10%, Time = 2years
find the difference between compound interest and simple interest of the following cases
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Answer:
SI= 1000 ; C1= 409,050
Step-by-step explanation:
SI = p * r* t / 100
= 5000 * 10 * 2/ 100
= 50*10*2
= 1000
CI= p (1+R/100)n - p
= 5000 (1+10/100)²- 5000
= 5000( 9.1)²-5000
= 5000* 82.81 - 5000
=414,050-5000
= 409, 050
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