find the difference between compound interest and simple interest on rs 8000 in 2 years at 5% p.a.
find the difference between compound interest and simple interest on rs 8000 in 2 years at 5% p.a.
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Rate=5℅
Time =2 years
So,
=8820
CI= Amount-Principle
CI=8820-8000
CI=820
And,
The difference between CI and SI
CI-SI=820-800
=20