Mathematics · Compound Interest

Find the difference between the compound interest (compounded annually) and simple interest accrued on a sum of Rs 20,000 at the rate of 10% per annum for 1 year.

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Rs 100
2Rs 10
3Rs 0✓
4Rs 1,000

Correct answer

Rs 0

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Find the difference between the compound interest (compounded annually) and simple interest accrued on a sum of Rs 20,000 at the rate of 10% per annum for 1 year.

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Find the difference between the compound interest (compounded annually) and simple interest accrued on a sum of Rs 20,000 at the rate of 10% per annum for 1 year.

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