Question

Find the difference between simple interest and compound interest on Rs

10,000 at 10 % p.a. for three years.​
IT IS MCQ​

Answer 1

Answer:

begin{aligned}

S.I. = \frac{1000*10*4}{100} = 400 \\

C.I. = [1000(1+\frac{10}{100})^4 - 1000] \\

= 464.10

\end{aligned}

So difference between simple interest and compound interest will be 464.10 - 400 = 64.10