Question

The difference between the compound interest and simple interest on 500 at the rate of 10% per annum for 1 year.​

Answer 1

Answer:0Rs

Step-by-step explanation:

Principal = Rs500

Interest =10%per annum

Time= 1year

So Compound interest :

P(1+interest)^t - P

=500(1+10/100)^1 - 500

=500(110/100)-500

=(50×11)-500

=550-500 =50rs......(i)

For simple interest :

S. I. =P×R×T/100

=500×10×1/100

=50×1

=50rs........( ii)

Now, (i) - (ii) =50rs-50rs

=0rs

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