What will be the difference between simple and compound interests at 10/ per annum on a sum of Rs 1000 after 4 years
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Answered by
8
Answer:
Answer: Principal sum = ₹1000, interest rate = 10%p.a. , time= 4yrs. ... Compound interest= P{1+ R/100}™ - P =1000{1+10/1000}^4-1000 = 1464.1 - 1000 = 464.1 Thus difference in interests= 464.1 - 400 = ₹64.1.
Answered by
3
Step-by-step explanation:
principal sum =₹1000
rate of interest =10/annum
time=4years
simple interest =p*r*t/100
=1000*10*4/100
=₹400
compound interest =
A=p(1+r/100)n
=1000(1+10/100)to the power 4
=₹1464.1
c. i=p+A
=1000+1464.1
=2464.1
Difference =2464.1-400
=₹2064.1
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