Question

What is the difference between the simple and compound interest on 7300 at the rate of 6%p.a. in 2 years​

Answer 1

Answer:

26.28 rupees

Step-by-step explanation:

We have to find difference between simple and Compund Interest

I can tell you in short method

Formula

Difference= Principle×(R^2)/10000

= 7300×36/10000

= 26.28 rupees

2nd method,

You have to calculate simple Interest and Compund Interest then difference between them.

Answer 2

Answer:

Simple int

=7300*2*6/100

=876

Step-by-step explanation:

comp int

=A-P where A=P[1+(r/100)^n]

so

A=7300[1+6/100)^2]

=7300[1.06^2]

=7300*[1.1236]

=8202.28

so A-P=8202.28-7300

=902.28

which is

902.28-876 more than simp int

=26.28 difference. ANSWER