what is the difference between compound interest and simple interest for the sum of 20000 over a2 year period if the compound interest is calculated at 20%p.a. and simple interest is calculated at 23% p.a.?
Answers
Answered by
3
CI:
2oooo (I +20/loo) 2 = .
2oooox120/looxl2o/1oo=288oo
CI =28800-2oooo=Rs.8800
SI:
20000x2x23/loo=Rs.9200
Difference=9200-8800 = Rs 400
Answered by
1
Answer:
S. I. - C. I. =400
Step-by-step explanation:
SI for two years is 9200
CI for two years is 8800
So difference SI-CI=400
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