*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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Step-by-step explanation:
1st SI =P×R×T÷100=1000×5×2÷100=100
2ND CASE=PROCESS FOR CI=1000×(5+1÷100)²=1102.5Amount
ci=a-p=1102.5-1000=102.5
DIFFERENCE =102.5-100=2.5
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