1.

What is the difference in simple interest and compound interest on 115000 for 2 years at 6% p.a compounded annually.

Answer»

Principal (P) = ₹ 15,000

Time period (n) = 2 yrs.

Rate of interest (r) = 6% p.a compounded annually

Difference between CI and SI given by

CI – SI = P (r/100)n 

= 15000 (6/100)2

= 15000 x 6/100 x 6/100

= ₹ 54



Discussion

No Comment Found