An amount of ₹2,000 is invested at 5% annual interest rate for 3 years. Find the difference (in ₹) between compound interest (compounded annually) and simple interest.

Subject: Mathematics | Topic: Arithmetic | Difficulty: MEDIUM

Options

1. (A) 20.25
2. (B) 15.25
3. (C) 5.25
4. (D) 10.25

Verified Answer

Option (B): 15.25

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