Question

7. Find the difference between C.I. and S.I. on 3,000 for 3 years at 10% per annum.​

Answer 1

Answer:

Simple interest =

100

6

×2×3000=Rs.360

Compound interest in first year = Simple interest in first year

=

100

6

×2×3000=Rs.360

Compound interest in 2nd year on (3000+180)

=Rs.3180=

100

6

×1×3180

=Rs.190.80

∴ Total Compound interest =Rs.180+190.80

=Rs.370.80

Difference between SI and CI

=Rs.370.80−Rs.360

=Rs.10.80