between simple interest and compound interest principal is = 10,000 R = is 10 t is 3 years with out formula
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Given:
Present value =₹ 10000
Interest rate =10% per annum
Time =3 years
To find the amount we have the formula,
Amount (A)=P(1+(r/100))
n
where P is present value, r is rate of interest, n is time in years
Now substituting the values in above formula we get,
∴A=10000(1+10/100)
3
⇒A=10000(11/10)
3
⇒A=121(10)(11)
⇒A=1331(10)
⇒A=₹ 13310
∴ Compound interest =A–P
=13310–10000=₹ 3310
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