Question

find the difference in simple interest and compound interest on rupees 5000 at 20 persent per annum for 3 years
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Answer 1

Answer:

Step-by-step explanation: formulae of simple interest = P×T×R/100

5000×3×20/100 =3000

Formula of compound interest=A=p(1+r/100)^t

5000(1+20/100)^3 =8640

NOW. the difference between them is 8640-3000 =5640