What will be the difference between simple and compound interest @20% per annum on a sum of $500 after 2 years?
Choose the correct choice
A) $10  B) $20  C) $25  D) $30  E) $40
S.I. = 500*20*2/100= 
<gadget id="calculator">500*20*2/100</gadget>
<output>200</output>
$200   C.I.= 500 * (1 + 20/100)^2 - 500 = $220   Difference = 220-200= 
<gadget id="calculator">220-200</gadget>
<output>20</output>
$20   Answer is $20
<result>B</result>
What will be the difference between simple and compound interest @20% per annum on a sum of $500 after 2 years?