Question

Find the difference between the simple interest and compound interest on Rs 5000 at 4% per annum for 3 years.

Answer 1

Answer:

S.I=  

100

P×R×n

​  

=  

100

5000×10×3

​  

=1500

C.I=P(1+  

100

R

​  

)  

n

−P=5000[(1+  

100

10

​  

)  

3

−1]=1655

∴C.I−S.I=1655−1500=155