Question

Find the compound interest on 5000 for 3 years at 5% p.a. Find the simple interest also on 5000 for
3 years at 5% p.a. and calculate the difference in the interests.​

Answer 1

Answer:

5000

Step-by-step explanation:

find amount

a=p(1+rt/100)=5000(1+3*5/100)=5,750

find s.i.=prt/100=5000*5*3/100=750

difference=

5750-750=5000