the difference between c.I and s.I on rs 50,000 at 5% p.a for one year is
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Given : c.I and s.I on rs 50,000 at 5% p.a for one year
To Find : Difference
Solution:
P = 50,000
R = 5 % p.a
n = 1 Years
SI = P * R * n/100
= 50000 * 5 * 1/100
= 2500 Rs
Assuming compounding period annually as not given
CI = A - P
A = P(1 + R/100)ⁿ
CI = P(1 + R/100)ⁿ - P
= 50000(1 + 5/100)¹ - 50000
= 50000 * 5/100
= 2500
Hence CI and SI are same for 1 Year
so No difference
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