Question 50

Find the difference between Compound Interest and Simple Interest on a sum of Rs.15000 for 2 years at 8% per annum.

Solution

$$C.I=15000\left(1+0.08\right)^2-15000=2496.$$

$$S.I=15000\times2\times0.08=2400.$$

So,$$C.I-S.I=2496-2400=96.$$

D is correct choice.

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