what is the difference between the simple and compound interest on rupees 7300 the rate of 6% per annum in 2 years
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Answer:
rs. 32.28
Step-by-step explanation:
compound interest :
p ( 1 + r/100)ⁿ
Compound interest of the given data :
[7300 ( 1 + 6/100)² ]- 7300
[ 73 * 106 * 106 ] - 7300
8202.28 - 7300
= 908.28
Simple interest of the given data :
PTR/100
7300 * 2 * 6/100
= 876
Difference between them :
(c.i - s.i)
908.28 - 876
= rs. 32.28
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