What will be the difference between simple and compound interest at 16% per annum on a sum of Rs. 1000 after 4 years?
Select
A) 164.19  B) 164.12  C) 170.6  D) 167.1  E) 165.11
S.I. = (1000 * 16 * 4)/100 = Rs. 640   C.I. = [1000 * (1 + 16/100)4 - 1000] = Rs. 810.6 Difference = (810.6-640) = Rs. 170.6   Answer: 170.6
<result>C</result>
What will be the difference between simple and compound interest at 16% per annum on a sum of Rs. 1000 after 4 years?