The difference between the compound
The difference between the compound interest, compounded annually and the simpleinterest if ₹17,700 is deposited at 4% rate of interest per annum for 2 years is:
यदि ₹17,700 को 2 वर्ष के लिए 4% वार्षिक ब्याज दर पर जमा किया जाता है, तो वार्षिक रूप से संयोजित चक्रवृद्धि ब्याज और साधारण ब्याज के बीच का अंतर कितना है?
Detailed Solution & Logic
Correct Answer:
₹28.32
P = 17700, R = 4%, T = 2 years
Difference between CI and SI for 2 years = $ P\left(\frac{R}{100}\right)^2 $
$ = 17700 \left(\frac{4}{100}\right)^2 $
$ = 17700 \times \frac{16}{10000} $
Answer = 28.32
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