Question

Calculate the difference between the compound interest and simple interest on rs 5000 at 10 percent per annum in 3 years.

Answer 1

Answer:

S.I=

100

P×R×n

=

100

5000×10×3

=1500

C.I=P(1+

100

R

)

n

−P=5000[(1+

100

10

)

3

−1]=1655

∴C.I−S.I=1655−1500=155