Find the difference between compound interest and simple interest on a sum of ` 3,000 at 10% p.a. for two years.
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p= 3000
r= 10%
n = 2 yrs
SI = p X r X n / 100
3000 X 10 X 2
_______________
100
= 600
CI= p[ 1+r / 100] ^n - 1]
3000[1+10/100]^2 -1]
3000 [ 1+1/10]^2 -1]
3000[ 11/10 X 11/10] -1]
3000 X 11/10 X 11/10] -1]
= 3630 ans
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