by what percent less is the simple interest on rs 4500 for 8 years at 8% per annum than the early compound interest on rs4000 for 3 years at 10% per annum.
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Step-by-step explanation:
for 8 years simple interest = (4500*0.08)*8 = 2880₹
compound interest 1st year = (4000*0.1) =400
total = 4400
2nd year ci = (4400*0.1)=440
total = 4840
3rd year ci = (4840*0.1)=484
total 3 years ci = 400 + 440 + 484
= 1324₹
difference between ci & si = 2880 - 1324 = 1556₹
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