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- The difference between simple interest and compound interest on Rs.
Question 1:
The difference between simple interest and compound interest on Rs. 600 for 1 years at 10% per annum, reckoned half yearly is? A. Nil
B. Rs. 6.60
C. Rs. 4.40
D. Rs. 1.50
Feedback S.I. = Rs. (600 x 5 x 2)/100 = Rs.60
C.I.= Rs. [600 x (1 + 5/100)2 - 600] = Rs. 61.50
Requred Difference = Rs. (61.50 - 60) = Rs.1.50
C.I.= Rs. [600 x (1 + 5/100)2 - 600] = Rs. 61.50
Requred Difference = Rs. (61.50 - 60) = Rs.1.50
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