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The difference between the simple interest and the compound interest (compounded annually) on ₹2000 for 2 yr at 8% per annum will be - Mathematics

MCQ

The difference between the simple interest and the compound interest (compounded annually) on ₹2000 for 2 yr at 8% per annum will be

Options

  • ₹ 10

  • ₹ 20

  • ₹ 13

  • ₹ 25

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Solution

₹ 13

Explanation:

When time is 2 years then

A difference of CI and SI `="p"(("R")/100)^2`

`"D" = 2000(8/100)(8/100)=128/10`

= 12.8 ≈ ₹ 13

Concept: Simple and Compound Interest
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