Subject

    Bank Exam

    Topic

    সমন্বিত ১০ ব্যাংক ও আর্থিক প্রতিষ্ঠান (সিনিয়র অফিসার) - ১০.১১.২০২৩

    What is the difference between the amount of interest earned on a principal of Tk. 100 for 2 years at 10% simple interest rate and 10% compounding interest rate?

    ক)
    Tk. 121
    খ)
    Tk. 120
    গ)
    Tk. 2
    ঘ)
    Tk. 1

    Explanation

    Simple interest = 100 × 2 × (10/100) = 20 taka Compound interest = 100 {1 + (1/10)} 2 - 100 = 100 (11/10) 2 - 100 = 121 - 100 = 21 ∴ Difference = 21 - 20 = 1 taka

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