What is the difference between the compound interest (compounded annually) and the simple interest on ₹12,000 for 2 years at 10% per annum?
A. ₹120
B. ₹1,200
C. ₹100
D. ₹240
1 answer
Best answer
Answer: A. ₹120
Answer: (A) ₹120
For 2 years, CI \(-\) SI \(= P\left(\frac{R}{100}\right)^2 = 12000 \times 0.01 = 120\). Check: CI = 2520, SI = 2400.
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· 27 Oct 2026
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