8. Find the difference between the simple interest and
compound interest on 60,000 at 10% per annum for
3 whole 1/2 years
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1
Answer:
here
p= 60000
r=10
t=3.5
simple interest = pnr/100
=60000 x 10 x 3.5
=60000 x 35
=2100000
compound interest =P (1 + r/n)^ (nt)
= ₹83,757.87
therefore difference = simple interest x compound interest
= 2100000 - ₹83,757.87
= 20,16,242.13
hence difference s 20,16,242.13
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