Question

seema invested rs 6400 for 3 years at the rate of 10% per annum compounded annually. sunali invested the same amount at the same time but on simple interest. who gets more interest and by how much?

Answer 1

P = 6400
t = 3years
r = 10%

$A=P(1+r)^{t}=6400(1+0.1)^{3}=6400(1.1)^{3}=Rs.\ 8518.4$

$CI=A-P=8518.4-6400=Rs.\ 2118.4$

$SI= \frac{Ptr}{100}= \frac{6400*3*10}{100}=Rs.\ 1920$

$CI\ is\ more\ than\ SI. \\ \\ CI-SI=2118.4-1920=Rs.\ 198.4$

Answer 2

First ans is is 2118.4

and second ans is 198.4

Hope it helps you