Compound Interest Practice Test 1

Question : 27 of 40

Marks: +1, -0

Find the difference between the compound interest and simple interest on Rs 6,250 at 16%per annum compound interest after 2 years.

Solution:

Sum = Difference ×

(100/R)^2

6250=\Difference× (100/16)^2

\Difference=160

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