What is the difference between the simple and compound interest on ₹7,300/- at the rate of 6 p.c.p.a in 2 years?

Options

A. ₹29.37/-
B. ₹26.28/-
C. ₹31.41/-
D. ₹21.34/-

Explanation

To find the difference between simple interest and compound interest on ₹7,300 at a rate of 6% per annum over 2 years, we will follow these steps:

### Step 1: Calculate Simple Interest (SI)
The formula for Simple Interest is:
\[ \text{SI} = \frac{P \times R \times T}{100} \]
Where:
...