Find the difference between compound and simple interest, on ₹ 1,25,000; at the rate of 5 pcpa; for 3 years ?
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Answer:
- ₹ 953.125 Will be the difference between compound and simple interest.
Step-by-step explanation:
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Step-by-step explanation:
principal =125000
rate 5
the difference between compound interest and simple interest for 3 years =P * R^3(300+r)/100^3
=125000* 125(300+5)/100^3
125000 *38125/1000000
=125*4575/1000
= 4765.625
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