Question

*What is the difference between simple interest and compound interest for 2 years at the rate of 5% on Rs.1000?*

1️⃣ Rs. 250
2️⃣ Rs. 2500
3️⃣ Rs. 2.50
4️⃣ Rs. 100​

Answer 1

Answer:

The difference between the compound interest and the simple interest on Rs. 42000 for two years is Rs. 105 at the same rate of interest per annum. ... For solving this question, you should know the formula of simple and compound interest