2. Principal =* 1000, Rate = 8% per annum. Fill in the following table and find
which type of interest (simple or compound) changes in direct proportion with
time period.
Time period
1 year 2 years 3 years
Simple Interest (in)
Compound Interest (in 5)
Answers
Answered by
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Answer:
Given that Principal (P) = 1000 and Rate (r) = 8% per annum(per year).
Calculating the Simple Interest:
Formula for the simple interest is =
.
So, for 1 year:
.
for 2 years:
.
similarly for 3 years:
.
Calculating the Compound Interest :
The formula for the compound interest is
.
So for 1 year:
.
for 2 years:
.
similarly for 3 years:
.
Hence we have
case of simple interest
Simple interest is directly proportional with time.
While in case of compound interest:
does not give the same constant.
Compound interest is not directly proportional with time.
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Answer:
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