What will be the difference between simple and compound interest at 8% per annum on a sum of Rs. 1000 after 4 years?
Choose the correct choice from the following options
A) 64.19  B) 64.12  C) 40.5  D) 64.1  E) 64.11
S.I. = (1000 * 8 * 4)/100 = Rs. 320   C.I. = [1000 * (1 + 8/100)4 - 1000] = Rs. 360.5   Difference = (360.5 - 320) = Rs. 40.5   Answer: 40.5
<result>C</result>
What will be the difference between simple and compound interest at 8% per annum on a sum of Rs. 1000 after 4 years?