The difference between compound interest and simple interest on a sum of ₹5,000 for 3 years at 8% per annum is:

A

₹24
B

₹32
C

₹40
D

₹50

Explanation:

The difference is ₹40 due to compounding

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This question belongs to the set "Mathematics Practice Quiz on Simple and Compound Interest". Click below to read detailed notes and attempt the full quiz.

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