Question

Q.18. Srikanth deposited Rs. 16000 in a bank that paid simple interest
the rate of 8% p.a. How much interest does he earn after 2
years?​

Answer 1

Answer:

Rs. 102.40

Simple interest=

100

16000×8×2

=2560Rs

Compound interest=16000(1+

100

8

)

2

−16000=16000(

25

27

)

2

−16000=

625

16000×729

−16000=18662.40−16000=2662.40Rs

Diff of intt.=2662.40-2560=102.40 Rs

Step-by-step explanation:

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