The difference between compound interest and simple interest on a sum

1.	The difference between compound interest and simple interest on a sum of Rs.9,000 for 2 years at 7% p.a. payable yearly is1. Rs.44.172. Rs.44.103. Rs.494. Rs.42
Answer» Correct Answer - Option 2 : Rs.44.10 Given: Principal (P) = Rs.9,000, Time (T) = 2 years, Rate (R) = 7% Formula used: The difference between S.I. and C.I. for 2 years = PR²/(100)² Where P → Principal R → Rate Calculations: According to the question, The required difference = (9000 × 7 × 7)/(100)² ⇒ Rs.44.10 ∴ The difference between S.I. and C.I. for 2 years is Rs.44.10.

The difference between compound interest and simple interest on a sum of Rs.9,000 for 2 years at 7% p.a. payable yearly is1. Rs.44.172. Rs.44.103. Rs.494. Rs.42

Answer» Correct Answer - Option 2 : Rs.44.10

Given:

Principal (P) = Rs.9,000, Time (T) = 2 years, Rate (R) = 7%

Formula used:

The difference between S.I. and C.I. for 2 years = PR²/(100)²

Where P → Principal

R → Rate

Calculations:

According to the question,

The required difference = (9000 × 7 × 7)/(100)²

⇒ Rs.44.10

∴ The difference between S.I. and C.I. for 2 years is Rs.44.10.

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The difference between compound interest and simple interest on a sum of Rs.9,000 for 2 years at 7% p.a. payable yearly is1. Rs.44.172. Rs.44.103. Rs.494. Rs.42

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