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(A) The formula for the difference between compound interest $(CI)$ and simple interest $(SI)$ for $2$ years is given by: Difference $= \frac{P 	imes

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$8$

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(A) The formula for the difference between compound interest $(CI)$ and simple interest $(SI)$ for $2$ years is given by: Difference $= \frac{P 	imes R^{2}}{100^{2}}$ Where $P$ is the principal amount and $R$ is the rate of interest. Given: $P = 10000$,Difference $= 64$. Substituting the values: $64 = \frac{10000 	imes R^{2}}{100 	imes 100}$ $64 = \frac{10000 	imes R^{2}}{10000}$ $64 = R^{2}$ $R = \sqrt{64} = 8 \%$

The difference between simple and compound interest on a sum of $10000$ is $64$ for $2$ years. Find the rate of interest. (in $\%$)

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