Question

8. Find the difference between the simple interest and
compound interest on 60,000 at 10% per annum for
3 whole 1/2 years​

Answer 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