Question

Find the difference between compound interest and simple interest on rs.12,000 for 3 years at 12% p.a.​

Answer 1

Step-by-step explanation:

$si \: = \frac{p \times r \times t}{100}$

$s.i = \frac{12000 \times 12 \times 3}{100}$

$s.i = \frac{432000}{100}$

$s.i = 4320$

Comoupnd interest

$a = p( 1 + \frac{r}{100} )^{n}$

$a = 12000( 1 + \frac{12}{100} )^{3}$

$a = \frac{12000 \times 112 \times 112 \times 112}{100 \times 100 \times 100}$

A =16859.136

Si= A-P

S.I =16859.136 -12000

= 4859.136

Different between simple interest and compound interest

compound interest - simple interest

= 4859.136 - 4320

= 539.136 rupees

Answer 2

Answer:

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