Question

c) Calculate the difference between the compound interest and
the simple interest on Rs. 12,000 at 10 % p.a for 15 years.​

Answer 1

Answer:

SI = PRT/100)

   = 12000*10*15/100

   = Rs.18000

CI = P (1+r/n)^nt

    = 12000 (1+10/1)^1*15

    = 12000 (4.1772)

    = Rs.50126.4

Difference = 50126.4 - 18000 = 32,126.4