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30 Volts 500ma means: 30volts, AC or DC not specified, at a rate of 500ma = roughly 15 watts electrical energy supplied. With out the AC or DC specified no gues on what it could be used for can be made.

12 V DC 700ma means: 12 Volt Direct Current with a supply rate of 700ma roughly 8.4 watts. This type of power supply common for things like cell phone chargers, Small battery charges for things like AA or AAA Nicad or Lithium Batteries.

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Q: What is the difference between output 30V 500mA with output 12V DC 700mA?
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