Question

2. Find the difference between simple interest and compound interest on 12,000 at 9% per annum
3 years,compounded annually​

Answer 1

Answer:

ptr/100

q

12000*9*3/100

00 cut from 12000 and 100

120*9*3

1080*3

1240

Answer 2

The amount at the end of 'n' years of investing in compound interest.

$A = P(1 + \frac{r}{100} {)}^{n}$

$here,$

$P = 12000$

$n = 3$

$r = 5\%$

$A = 12000(1 + \frac{5}{100} {)}^{3}$

$= rs.13891.5$

now, compound interest

$CI = amount - principle \\ = 13891.5 - 12000 \\ \boxed{= rs.1891.5}$