If an amount of ₹21,400 is deposited for 2 years at an annual interest rate of 5%, find the difference between the compound interest (compounded annually) and the simple interest.

Subject: Mathematics | Topic: Arithmetic | Difficulty: MEDIUM

Options

1. (A) ₹46.60
2. (B) ₹56.50
3. (C) ₹56.40
4. (D) ₹53.50

Verified Answer

Option (D): ₹53.50

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