1.

find the difference between the simple interest and the compound interest on rs5000 for 2 yrs at 6% per anum​

Answer»

The fo
Formula for COMPOUND interest is P(1+R/100)^N
Here, P= 5000
N= 2
R= 6
= 5000(1+6/100)^2
= 5000(106/100)^2
= 5000 X 106/100 x 106/100
By simplification,
= 106 x 53
= 5618.

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