Find the simple interest for a sum of ₹ 15,000 invested for 2 years at 8 % per annum
₹ 2400
₹ 2800
₹ 3200
₹ 2000
Given P = ₹ 15,000 R = 8% and T = 2 years
I = P×R×T100
= 15,000×8×2100
= ₹ 2400
Find the difference between compound interest and simple interest on an amount of ₹ 15,000 for 2 years at 8 % per annum