Question

Find the difference between SI and CI at $12$% for $2$ year on INR$10000$.

• A. INR $169$
• B. INR $12$
• C. INR $144$
• D. INR $24$

Answer 1

The correct option is C INR $144$

We know,

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

$=\frac{10,000\times 12\times 2}{100}$

$=2400$

$CI=P[{(1+\frac{r}{100})}^t-1]$

$=10,000[{(1+\frac{12}{100})}^2-1]$

$=10,000[{\left(\frac{112}{100}\right)}^2-1]$

$CI=2544$

$CI-SI=144$