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Basic Mathematics QUESTION #2899
Question 1
Difference between compound and simple interest on $\$100$ at $10\%$ for $2$ years is:
  • $\$0$
  • $\$1$✔️
  • $\$2$
  • $\$5$
Correct Answer Explanation
S.I. $= 20$. C.I. $= 100(1.1)^2 - 100 = 21$. Difference $= 1$.