The difference between compound interest and simple interest on an amount of Rs

Question

The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

Answer: Option A
- [ 15000 x ( 1 + R ) 2 - 15000 ] - ( 15000 x R x 2 ) = 96 100 100

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