What will be the difference between simple and compound interest at 10% per ann

Question

What will be the difference between simple and compound interest at 10% per annum on a sum of Rs. 1000 after 4 years?

Options:

A . Rs. 31

B . Rs. 32.10

C . Rs. 40.40

D . Rs. 64.10

Answer: Option D

S.I. = (1000 * 10 * 4)/100 = Rs. 400 C.I. = [1000 * (1 + 10/100)⁴ - 1000] = Rs. 464.10
Difference = (464.10 - 400) = Rs. 64.10

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