Question

Find the difference between simple interest and compound interest for 3 years at 10% per annum,when the interest is compounded annually on₹30,000.​

Answer 1

Answer:

P=Rs.30,000,T=2years and R=10%

⇒  A=P(1+100R)T

⇒  A=30000×(1+10)2

100

⇒   A=30000×11 × 11 × 11

10 10 10

∴    A=Rs.39930

⇒   C.I.=A−P=Rs.39930−Rs.30000=Rs.9930