Question

Find the difference between compound interest and simple interest on
Rs 45000 at 12% per annum for 3 year.

Answer 1

Answer:

Step-by-step explanation:

Principle = 45000

Rate = 12%

Time = 3 years

SI =P*R*T /100

= 45000 * 12 * 3 /100

SI = 16200

A = P +SI

= 45000 + 16200

= 61200

Now CI

CI = P( 1 +R )T

= 45000(1+12/100) T

= 45000 * 120/100 * 3

=  162000

Now Difference

CI - SI = 162000 - 16200

          = 145800

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Answer 2

Step-by-step explanation:

time is 5 years

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