alleryStart learning →For 2 years at 10% yearly, annual compound interest exceeds simple interest by ₹40. Same principal: how much?
A₹4,000
B₹400
C₹2,000
D₹8,000
Answer & Solution
Correct answer: A. ₹4,000
The extra interest is 10% of the first year's 10% interest, or 1% of principal; ₹40 is 1% of ₹4,000.
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