A diffference of simple interest and compound interest of 3 years in 1600 and rs 222 at same rate. Find the rate of interest
Answers
Answered by
1
Answer:
eg:
Let the sum =P
Simple Interest for three years =P×
100
5
×10=0.15P
CI=P(1+
100
5
)
3
−P
=P(1.05)
3
−P
1.15763P−P=0.15763P
Difference between compound interest and simple interest
CI−SI=0.51763P−0.15P
=0.00763P
0.00763P=76.30
P=10,000.
Answered by
2
Answer:
Let the sum =P
Simple Interest for three years =P×1005×10=0.15P
CI=P(1+1005)3−P
=P(1.05)3−P
1.15763P−P=0.15763P
Difference between compound interest and simple interest
CI−SI=0.51763P−0.15P
=0.00763P
0.00763P=76.30
P=10,000.
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