Ahmed lent rupees 3000 to his friend, ishaq for 2 years at 6 %per annum at simple interest. How much more would he have gained had he lent it at compound interest payable annually (rate and time being the same) please give me the correct answer please please please please please
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Answer:
p= principle
t= time
r = rate
ptr/100 = simple interest
(3000*2*6)/100 = 360
p(1+r/100)^t-p
3000(1+6/100)^2-3000 = 370.8
10.8 rupees more if had lent it at compound interest
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Answer in the attachment
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