find the difference between compound interest and simple interest in the following :- Principal=7812.50,Rate=12%,Time=3 Years
Answers
Answer:
Simple interest answer is 2812.5
Amount is 10625
Step-by-step explanation:
And in in compound for per year in simple we take as three years directly in the process but it is same like simple interest the formulas are same it is all same but we need to take the year single mans 7812.50 * 12*1÷100
next we need to take the amount of the first year and we need multiply with 12 and 1 ÷100
next we need to take the amount of 2nd year and we need to do the same process 12 * 1 divided by 100 and whatever amount come of the third year we need to substract with the original principal
Answer:
Rs.351
Step-by-step explanation:
Simple interest
S.I. =( p*r*t)/100
= (7812.50*12*3)/100
= 2,81,250/100
= 2,812.5
Amount of S.I. = Principal + S.I.
= 7812.5+ 2812.5
= 10,625
Compound interest
Amount of CI = p*(1+r/100)^t
A = 10,976.00
A = Principal +Compound Interest where
P (principal) = 7,812.50
C.I. (interest) = 3,163.50
Difference between simple interest and compound interest is:
= C.I- S.I.
= 3,163.5 - 2,812.5
= Rs.351