find the difference between the compound interest and simple interest on Rupees 32000 at 12 % per annum for 3 years
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let the simple interest = p×r×t/100
32000×12×3/100 = ₹11520
and the compound interest =p{(1+r/100)^t-1}
32000{(1+12/100)^3-1 } = ₹1304.576
the difference between the interest = 11520-1304.576= 10215.424
32000×12×3/100 = ₹11520
and the compound interest =p{(1+r/100)^t-1}
32000{(1+12/100)^3-1 } = ₹1304.576
the difference between the interest = 11520-1304.576= 10215.424
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