The difference between compound interest and simple interest on Rs. 5,000 at 2% per annum for two years is ________.

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Answer & Explanation

Correct AnswerA. Rs. 2

Quick Explanation

For 2 years, CI - SI = P(r/100)^2 = 5000 × (2/100)^2 = Rs. 2.

CI-SI for 2 years = P(r/100)²

For 2 years, CI - SI = P(r/100)^2 = 5000 × (2/100)^2 = Rs. 2.

Use the standard formula directly after identifying the quantities.

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