Question

Shankar takes a loan of 10000 at a Compound interest rate of 10%per annum Find the difference between the Compound interest and the simple interest at the same rate for 2year.

Answer 1

Heya user
Here is your answer !!

Principal = Rs 10000
Rate = 10%
Time = 2 yrs .

So, Compound Interest = P(1+R/100)² - P
= Rs. 10000(1+10/100)² - 10000
= Rs. 10000(11/10)² - 10000
= Rs. 10000*121/100 - 10000
= Rs. 12100 - 10000
= Rs. 2100 .

Simple Interest = P*R*T /100
= Rs. 10000*10*2/100
= Rs. 2000

So , difference between the Compound interest and the simple interest = Rs. 2100 - Rs. 2000 = Rs. 100 (Ans)

Hope it helps !!

Answer 2

CI=rs 2100
SI=RS 2000
Difference = ci-si
2100-2000=100
ans=rs100