Question

What is the difference between the simple in and compound interest on rupees 7300 at the rate of 6% per annum in 2 year

Answer 1

Answer:

₹26.28.

Step-by-step explanation:

S.I.=

$\frac{p \times r \times t }{100}$

$\frac{7300 \times 6 \times 2}{100}$

S.I = ₹876.

Now, C.I.=Amount-Principal

Amount=

$p {(1 + \frac{r}{100})}^{t}$

$7300{(1 + \frac{6}{100}) }^{2}$

Amount=₹8208.28.

So, C.I.= ₹(8208.28-7300)

C.I.= ₹902.28

Now, Difference in C.I. and S.I.= ₹(902.28-876)

₹26.28

Hope you get this!