find the compound interest on rs.2000 for three years at 10% per annum. also find differece between c.i and s.i for that period
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p=2000 rs
t=3 yrs
r=10% pa
si=p*r*t/100=2000*3*10/100=60000/100=600 Rs
ci=p(1+r/100)^t - p
=2000(1+10/100)^3 -2000
=2000(1+0.1)^3-2000
=2000(1.331)-2000
=662 Rs
⇒CI=Rs. 662
⇒Difference (CI-SI)=662-600=Rs. 62
t=3 yrs
r=10% pa
si=p*r*t/100=2000*3*10/100=60000/100=600 Rs
ci=p(1+r/100)^t - p
=2000(1+10/100)^3 -2000
=2000(1+0.1)^3-2000
=2000(1.331)-2000
=662 Rs
⇒CI=Rs. 662
⇒Difference (CI-SI)=662-600=Rs. 62
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