# 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

• ₹ 10

• ₹ 20

• ₹ 13

• ₹ 25

#### 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
Is there an error in this question or solution?