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 answer
A) 64.19	B) 64.12	C) 40.5	D) 64.1	E) 64.11

Rationale: "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 : c"
Answer: C