Question

the difference between simple and compound interest on 20000 for 2 years at 6% per annum compound interest being reckoned annualy​

Answer 1

Answer:

- 20,000*2*6 / 100

-240000 /100

- 2,400

Answer 2

differece between C. I. and S. I. =72

Step-by-step explanation:

A=P(1+R/100)^N

=20000(1+6/100)^2

=20000(106/100*106*100)

=2*106*106

=22472

C. I. =A-P

=22472-20000

=2472

S. I. =P*R*N/100

=20000*6*2/100

=200*6*2

=2400

difference between C. I and S. I=2472-2400

=72

or by short cut trick

difference =20000*6/100*6/100

=2*6*6

=72