Simple interest and compound interest 1000000 in 3 years as 4% per annum
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Simple interest:
P=Rs. 1000000
R=4% pa
T=3 yrs
SI=(P*R*T)/100
=(1000000*4*3)/100
=10000*12
=1,20,000
Compound interest
P=1000000
r=4% pa
n=3 yrs
CI=P(1+r/100)^n-P
=1000000(1+4/100)^3-1000000
=1000000(104/100)^3-1000000
=104*104*104-1000000
=1124864-1000000
=124864
P=Rs. 1000000
R=4% pa
T=3 yrs
SI=(P*R*T)/100
=(1000000*4*3)/100
=10000*12
=1,20,000
Compound interest
P=1000000
r=4% pa
n=3 yrs
CI=P(1+r/100)^n-P
=1000000(1+4/100)^3-1000000
=1000000(104/100)^3-1000000
=104*104*104-1000000
=1124864-1000000
=124864
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