Question

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

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Answer 1

$si = \frac{p \times t \times r}{100} \\ = \frac{1000 \times 2 \times 5}{100} = 10 \times 2 \times 5 \\ = 200 \\ amout = 1000 + 200 = 1200$