Question

Find the difference between CI and SI on Rs 15000 for 2 yrs at the rate of 6% p.a. compounded annually.​

Answer 1

Answer:

Given,

principle = 15000

rate = 3 %, Time = 3 year

S.I=

100

15000×3×3

=1350 SI=

100

principle×rate

C.I=principle[(1+

100

rate

)

time

−1]

=15000[(1+

100

3

)

3

−1]

=

1000000

15000

(103

3

−100

3

)

=

1000

15

×92727

=1390.905

C.I−S.I=1390.905−1350

=40.905

≈40.91