Question

please solve this question rough note book thankyou

Answer 1

Given P = 16000, n = 3 years, R = 2%.

We know that A = P(1 + r/100)^n

                            = 16000(1 + 2/100)^3

                            = 16000(51/50)^3

                            = 16979.32




We know that CI = A - P

                             = 16979.32 - 16000

                             = 979.32.



We know that SI = PRT/100

                             = 16000 * 2 * 3/100

                             = 960.



Difference between Simple Interest and CI = 979.32 - 960

                                                                          = 19.32.


Hope this helps!