Mathematics · Interest
What is the difference (rounded off to one decimal place) between compound interest (compounded annually) and simple interest on a sum of ₹55,700 deposited at a 3% annual interest rate for 2 years?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹51.2
- 2₹50.1✓
- 3₹42.6
- 4₹58.8
Correct answer
₹50.1
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