alleryFor Rs 5,000 at 10% for 2 years, how much more is compound interest than simple interest?
ARs 25
BRs 100
CRs 50
DRs 105
Answer & Solution
Correct answer: C. Rs 50
Compound interest is 1,050 and simple interest is 1,000, so the gap is 50, which is the interest on the first year's interest.
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