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