Question

find the difference between compound interest and simple interest 50,000 at 12% per annum for 3 years​

Answer 1

Answer:

2,246.4

Step-by-step explanation:

Compound interest

amount=p(1+r/100)n

a=50000(1+12/100)³

a=50000(112/100)³

a=50000×112/100×112/100×112/100

a=70,246.4

COMPOUND INTEREST =A-P

20,246.4

simple interest =p×r×t/100

18,000

difference in ci and si=20246.4-18000

2,246.4 answer

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