Find the difference between simple interest and compound interest for a sum of Rs. $3000$ lent at $8 %$ p.a. in $2$ years.

19.20

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29.20

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39.20

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49.30

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Solution

The correct option is A $19.20$
$P = R s . 3000$
$n = 2$ years
$r = 8 %$
Difference between simple interest and compound interest for 2 years $= P {(\frac{r}{100})}^{2}$
$= 3000 \times {(\frac{8}{100})}^{2}$
$= R s . 19.20$

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Find the difference between simple interest and compound interest for a sum of Rs. 3000 lent at 8% p.a. in 2 years.

The correct option is A 19.20P=Rs.3000n=2 yearsr=8%Difference between simple interest and compound interest for 2 years =P(r100)2=3000×(8100)2=Rs.19.20

Find the difference between simple interest and compound interest for a sum of Rs. $3000$ lent at $8 %$ p.a. in $2$ years.

The correct option is A $19.20$
$P = R s . 3000$
$n = 2$ years
$r = 8 %$
Difference between simple interest and compound interest for 2 years $= P {(\frac{r}{100})}^{2}$
$= 3000 \times {(\frac{8}{100})}^{2}$
$= R s . 19.20$