What is the difference between compound interest and simple interest on Rs 10000 for 2 years at 10% per annum?

Answer and explanation

Correct answer: B. Rs 100

  1. Step 1: For 2 years the difference is P(R/100)^2.
  2. Step 2: 10000 x (10/100)^2 = 100.
Answer
Rs 100.

Practise more Arithmetic: Profit, Interest and Percentages.

Free questions with an explanation for every one, and full timed Banking (IBPS / SBI PO) mock tests.