Question
What will be the difference between simple and compound interest @ 10% per annum on a sum of Rs. 1000 after 4 years ?
Answer: Option D
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S.I. = Rs.` ((1000 xx 10 xx 4)/(100))` = Rs. 400
C.I. = Rs. `[1000 xx (1 + 10/100)^4 - 1000]` = Rs. 464.10
`:.` Difference = Rs. (464.10 - 400) = Rs. 64.10
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