Question

Find the difference between CI (compounded annually) and Si on rupees 2000 for 3year at the rate of 8% per annum

Answer 1

$si = \frac{prt}{100} \\ \frac{2000 \times 3 \times 8}{100} \\ = 48 \\ \\ \\ \\ amount = p(1 + \frac{r}{100} ) ^{t} \\ \\ = 2000(1 + \frac{8}{100} ) ^{3} \\ = 2000( \frac{100 + 8}{100}) ^{3} \\ = 2000 \times \frac{108}{100} \times \frac{108}{100} \times \frac{108}{100} \\ amount = 2519.424 \\ \\ ci \: = amount - principle \\ = 2519.424 - 2000 \\ = 519.424 \\ \\ difference \: between \: si \: and \: ci \: = 519.424 - 48 \\ = 471.424$

answer is 471.424