the difference between simple and compound interest on 20000 for 2 years at 6% per annum compound interest being reckoned annualy
Answers
Answered by
0
Answer:
- 20,000*2*6 / 100
-240000 /100
- 2,400
Answered by
0
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
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