Question

what is the difference between compound interest and simple interest on 8000Rs at 15% per annum for 2 years​

Answer 1

Answer:

When C.I.

A = P( 1+ R/100)to power n

A = 8000(1 + 15/100)to power 2

A = 8000(115/100)to power 2

A = 8000 * 115/100 * 115/100

A = 10580 Rs

CI = A-P

CI = 10580 - 8000

CI = 2580 Rs

When S.I

SI = (P * R * T)/100

SI = (8000 * 15 * 2)/100

SI = 2400 Rs

Difference between them = 2580 - 2400

                                           = 180 Rs

Step-by-step explanation: