find the difference betweenthe compound interest and simple interest on a sum of

64000 rupees for 2 years at 7and a half p.a

Asked by shrivastavaomprakash47 | 27th Feb, 2019, 05:52: PM

Expert Answer:

Simple space interest
straight I equals PNR over 100
equals fraction numerator 64000 cross times 2 cross times begin display style 15 over 2 end style over denominator 100 end fraction equals 9600 space Rs.

COmpound space interest
straight I space equals space straight A minus straight P
equals straight P open parentheses 1 plus straight R over 100 close parentheses to the power of straight n minus straight P
equals 64000 open parentheses 1 plus fraction numerator begin display style 15 over 2 end style over denominator 100 end fraction close parentheses squared minus 64000
equals 9960 Rs
difference
equals 360 space Rs.

Answered by Arun | 28th Feb, 2019, 09:59: AM