What is the difference between simple and compound interests on a sum of Rs. 1000, at 10% per annum after 4 years? *
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Step-by-step explanation:
Answer: Answer: Principal sum = ₹1000, interest rate = 10%p.a. , time= 4yrs. ... Compound interest= P{1+ R/100}™ - P =1000{1+10/1000}^4-1000 = 1464.1 - 1000 = 464.1 Thus difference in interests= 464.1 - 400 = ₹64.1.
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Answer:
Answer.= Principal sum = ₹1000, interest rate = 10%p.a. , time= 4yrs. ... Compound interest= P{1+ R/100}™ - P =1000{1+10/1000}^4-1000 = 1464.1 - 1000 = 464.1 Thus difference in interests= 464.1 - 400 = ₹64.1.
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