Question

What will be the difference between simple and compound interest at 10% per annum on a sum of

Rs.1,000 after 4 years​

Answer 1

Answer:

Principal sum = ₹1000, interest rate = 10%p.a. , time= 4yrs. Simple interest= P.R.T/100 = 1000×10×4/100 = 400. 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.

hope this helps you

Step-by-step explanation:

Answer 2

Answer:

Rs 64.1

Step-by-step explanation: