Mathematics · Simple and Compound Interest
Find the absolute difference between the interest earned in the following two scenarios: Scenario 1: A principal sum of ₹10,000 is invested at 10% per annum compound interest compounded annually for 2 years. Scenario 2: A principal sum of ₹1,000 is invested at 10% per annum simple interest for 4 years.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹1,700✓
- 2₹1,500
- 3₹3,124
- 4₹1,123
Correct answer
₹1,700
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