the difference between the compound interest and the simple interest on a certain sum for 2 years at 5% per annum 60
Answers
Answer:IN THE FIRST YEAR
P = Rupees 60
R = 5% / annum
T = 1 years
SI = P×R×T/100
= Rs. ( 60 × 5 × 1 / 100)
= Rs. ( 300/100)
= Rs. 3
Now, Amount = P + SI
Amount = Rs. ( 60+3)
Amount = Rs. 63
IN THE SECOND YEAR
P= Rs. 63
R= 5%
T= 1 year
SI = P×R×T/100
= Rs. ( 63 × 5 × 1 / 100)
= Rs. 315/100
= Rs. 3.15
Now, Compound Interest = P + Si
= Rs. 66.15 is the answer
hope it helps u:):)
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Step-by-step explanation:
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