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The difference between the S.I and C.I for 2 years for a principal of ₹ 5000 at the rate of interest 8% p.a is …….

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The difference between the S.I and C.I for 2 years for a principal of ₹ 5000 at the rate of interest 8% p.a is …….

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₹ 32

Difference between S.I & C.I is given by the formula

CI – SI = P (r/100)2

Principal (P) = 5000, r = 8% p.a

∴ CI – SI = 5000 (8/100)2 

= 5000 x 8/100 x 8/100 

= ₹ 32

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