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simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest

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Q: The difference between the simple and compound interest on a certain sum is Rs250 for two years at 5 percent Pa per annum Find the sum?
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Related questions

What is the difference between Simple interest and compound interest for two years on a certain sum of money at 4 percent is Rs160 the sum is?

Simple: 160 + (1.6 x 4 x 2) = 172.80 Compound: 160 x (1.04)2 = 173.06


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The difference between 2 years and 3 years is another addition of the interest. 7396 × (1 + rate/100) = 7950.7 → rate = (7950.7/7396 - 1) × 100 = 7.5 % compounded per year.


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