find the difiernce between ci (compounded annually) and si on 10.000 for 3 years at the rate of 10% per annum
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Answer:
COMPOUND INTEREST
P = 10000
T = 3
R = 10 %
A = P { 1 + R } T
100
A = 10000 { 1 + 10 } 3
100
10000 × 11 × 11 × 11
10. 10. 10
13310
CI = A - P
13310 - 10000
= 3310
SIMPLE INTEREST
A = P × R × T
100
A = 10000 × 10 × 3
100
= 3000
DIFFERENCE
CI - SI
3310 - 3000
300
Step-by-step explanation:
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