find the difference between the compound interest and simple interest if principal is rs 6000 rate 10percent per annum and time is 3 years
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Answer:
Rs986
Step-by-step explanation:
Principal = Rs6000
Rate of Interest = 10%
Time = 3 years
SIMPLE INTEREST:
SI=P*R*T/100
=6000*10*3/100
=Rs1800
COMPOUND INTEREST:
A=P[1+R/100]^3
=6000[1+10/100]^3
=6000[110/100]^3
=6000*110/100*110/100*110/100
=Rs7986
CI=A-P
=Rs(7986-6000)
=Rs1986
Therefore,difference between Compound Interest and Simple Interest = Rs(1986-1800)
=Rs986
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