Nutan gets two offers of loan from a bank and an app. The app offered Rs. 10,000 at 15 Percent per annum compounded annually for 2 years and the bank offered the same amount at the same rate and for the same time but on simple interest. Find the difference between the interests. 

Rs. 225

Principal (P) = Rs 10000

Rate(R) = 15% PA

Time(T) = 2 years

Rate of S.I. for 2 years = R% + R%

                                  = 15% + 15%

                                  = 30%

Rate of C.I. for 2 years = R% + R% + \(\frac{R×R}{100}\)%

                                  = 15% + 15% + \(\frac{15×15}{100}\)%

                                  = 30% + \(\frac{225}{100}\)%

                                  = 32.25 %

Difference = 32.25% - 30% = 2.25%

So, 2.25% of 10000 = Rs 225