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Find the difference between simple interest and annual compound interest on Rs 9,600 for 2 yers at the rate of 5 % per annum.​

Respuesta :

murphyart04

Answer:

Rs 984

Step-by-step explanation:

Principal (P) = Rs 9,600

Time (T) = 2 years

Rate (R) = 5%

Simple Interest (SI) = [tex]\frac{PTR}{100}[/tex]

SI = [tex]\frac{9600*2*5}{100}[/tex]

SI = [tex]\frac{9600}{10} = Rs 960[/tex]

Compound Interest (CI) = 9600 * [tex]\frac{41}{100} = 24*41 = Rs 984[/tex]

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