Find the difference in simple interest and compound interest on rupees 625 for 2 years at 4% per annum

Open in App

Solution

simple interest = p× r×t/100
= 625 × 4×2/100
= 50
compound interest = p((1+r/100)^t - 1)
= 625((1+0.04)^2 - 1)
625 ((1.04)^2 - 1)= 51
c.i. - s.i. = 51 - 50 = 1

Suggest Corrections

Similar questions

Find the difference between the simple interest and compound interest on rupees 2500 for 2 years at 4% per annum compound interest being reckoned semiannually

Q. Find the difference between compound interest and simple interest on Rs. 2,500 for 2 years at 4% per annum

The difference between compound interest and simple interest on an amount of Rs 15000 for 2 years is rupees 96 what is the rate of interest per annum

Q. Find the difference between the simple interest and compound interest on

R s 4800

for

2

years at

5 %

per annum, compound interest being reckoned annually.

Q. Find the difference between compound interest and simple interest on ₹45000 at 12% per annum for 5 years.

Join BYJU'S Learning Program

Find the difference in simple interest and compound interest on rupees 625 for 2 years at 4% per annum

simple interest = p× r×t/100 = 625 × 4×2/100 = 50 compound interest = p((1+r/100)^t - 1) = 625((1+0.04)^2 - 1) 625 ((1.04)^2 - 1)= 51 c.i. - s.i. = 51 - 50 = 1

simple interest = p× r×t/100
= 625 × 4×2/100
= 50
compound interest = p((1+r/100)^t - 1)
= 625((1+0.04)^2 - 1)
625 ((1.04)^2 - 1)= 51
c.i. - s.i. = 51 - 50 = 1