Question

Find the difference between Compound lnterest and Simple lnterest on Rs 45,000 at

12°/• per annum for 3 years.​

Answer 1

Answer:

Difference 2021.76

Step-by-step explanation:

simple interest SI=PTR/100

45000*3*12/100

SI=16200

CI for 1st year 12% of 45000=5400

         2nd year 45000+5400=50400

                       12% of 50400=6048

         3rd year 50400+6048=56448

                       12% of 56448=6773.76

total 3 years interest 5400+6048+6773.76=18221.76

CI-SI = 18221.76-16200

        =2021.76