find the difference between the compound interest and the simple interest on 30000 at 7% per annum for 3 years
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Answer:
SI =P×R×T/100
=30000×7×3/100
=₹6300
Amount=P(1+r/100)^n
=30000(1+7/100)^3
=₹36751.29
CI=A-P
=36751.29-30000
=₹6751.29
difference of CI and SI
=6751.29-6300
=₹451.29
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