Find the difference between the simple interest and compound interest on RS 2500 for 2 years at 4% per annum, compound interest
being reckoned semi annually.
1 answer:
Step-by-step explanation:
Given P=Rs.2,500,r=4%, N=2
CI=P(1+
100
R
)
2
−P=2,500(1+
100
4
)
2
−2,500=2,500(
100
2
104
2
−1)=
10,000
2,500×816
=Rs.204
SI=
100
P×T×R
=
100
2,500×4×2
=Rs.200
Difference=Rs.4
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