Find the difference between compound interest and simple interest for 2 years on a sum of Rs 11000 at a rate of 11% per annum.

Rs 133.1

Formula used:

(CI - SI) for 2 years = P($\frac{R}{100})^2$

Given, P = 11000, R = 11

Thus, CI - SI = 11000($\frac{11}{100})^2$

                    = 11000 x P($\frac{121}{10000})$    

                    = Rs 133.1