The difference between the compound interest and the simple interest accrued on an amount of 18000
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Let the rate be R% p.a. then, Show
[ 18000 ( 1 + ( R / 100 )2 ) - 18000 ] - ((18000 * R * 2) / 100 ) = 405 18000 [ ( 100 + (R / 100 )2 / 10000) - 1 - (2R / 100 ) ] = 405 18000[( (100 + R )2 - 10000 - 200R) / 10000 ] = 405 9R2 / 5 = 405 R2 =((405 * 5 ) / 9) = 225 R = 15. Rate = 15%. What is the difference between simple and compound interest on Rs 18000 at 6% rate for two years?The difference between the C.I. and S.I. on an amount of Rs. 18,000 in 2 years was Rs. 405.
How do you find the difference between simple and compound interest?What is the Difference between Simple and Compound Interest?. What is the difference between compound and accrued interest?Simple interest is accrued on just the original amount. Compound interest is accrued on the full balance, which is the principal plus any additional interest that has been accrued.
What is the difference between simple interest and compound interest for the sum of 2000?What is the difference between Simple Interest and the Compound Interest on $2000 for 2 Years at 10% Per-annum? The difference between the simple interest and the compound interest on $2000 for 1 year at 10% per annum is $20.
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