Question

Find the difference between the compound interest and the simple interest on Rs 30,000 at 7% per annum for 3 years
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Answer 1

Step-by-step explanation:

Ci= p{(1+r/100)^n-1}

30000{(1+7/100)^3-1}

30000{(100+7/100)^3-1}

30000{(107/100)^3-1}

30000{1,225,043/1000000-1

30000{1.225043-1}

30000{0.225043}

30000×0.225043

6751.29

Therefore ci = 6751.29

Si= pxrxt/100

30000x7x3/100

=6300

Therefore si =6300

There difference= 6751.29 - 6300=451.29 answer.

Answer 2

Step-by-step explanation:

difference between the compound interest and the simple interest

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