Question

find the difference between simple interest and compound interest on12000 at 9/per annum for 3year​

Answer 1

Answer:

So, the difference b/w C.I. & S.I. is 3540.348-3240=300.348

Explanation:

Simple Interest = 12000×(9/100)×3=3240

Compound Interest =

p{(1 + \frac{r}{n} )^ {nt} } - p

where P = Principal Amount

r = rate of interest

n = no. of times compounded

t = time

C.I. =

12000 {(1 + \frac{0.09}{1} )}^{1 \times 3} - 12000 = 3540.348

So, the difference b/w C.I. & S.I. is 3540.348-3240=300.348