Question

Calculate the difference between simple interest and compound interest on rs 30000 at the rate 10% per annum for 3 years

Answer 1

Answer:

SI on 30000 At the rate of 10% for 3 years

$30000 \times \frac{10}{100} \times3 \\ = 3000 \times 3 \\ = 9000$

CI on 30000 at the rate of 10% for 3 years

10% in interest on 1st year= 3000

in 2nd year principle will be 30000+3000= 33000

so for 2nd year 10% interest will be 3300.

In the 3rd year principle will be 36300

for the 3rd year 10% interest will be 3630

Total Compound interest

= 3000+3300+3630

=9930

Difference between C.I and S.I

= C.I - S.I

= 9930 - 9000

=930

Answer 2

Step-by-step explanation:

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