calculate the difference between the CI and SI on Rs 7500 in 2years at the rate of 8%per annum

Asked by galabeena1980 | 24th Dec, 2019, 12:17: PM

Expert Answer:

P = Rs. 7500, R = 8% p. a., N = 2 years
 
Compound interest = P(1 + R)n - P 
                            = P[(1 + R)n - 1]
                            = 7500 (1.082 - 1)
                            = Rs. 1248
 
Simple interest = PNR/100
                       = 7500 × 8 × 2/100
                       = Rs. 1200
Difference = 1248 - 1200 = Rs. 48

Answered by Sneha shidid | 24th Dec, 2019, 01:01: PM