What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.
(1) Rs 15
(2) Rs 20
(3) Rs 30
(4) Rs 10
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What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.
(1) Rs 15
(2) Rs 20
(3) Rs 30
(4) Rs 10
What will be the difference between simple interest and compound interest on sum of Rs 6000 in 2 years at the rate of interest of 5% p.a.
(1) Rs 15
(2) Rs 20
(3) Rs 30
(4) Rs 10
(1) Rs 15
cl = 6000 (1 + 5/100)2 – 6000
= 6000 x 441/400 – 6000
= 615
si = 6000 x 5 x 2 / 100 = 600
∴ difference = Rs 15