Question

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find the different between simple interest and compound interest on rs.30000 for 3 years at 10% per annum,when the interest is compounded annually interest
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Answer 1

Answer:

$\fbox\orange{A}\fbox\pink{N}\fbox\blue{S}\fbox\red{W}\fbox \purple{E}\fbox\red{R}$

SI = PRT/100

SI = 30000 × 3 × 10/100

SI = 300 × 3 × 10

SI = 9000

Now

Amount = P × (1 + R/100)ⁿ

Amount = 30,000 × (1 + 10/100)³

Amount = 30,000 × (100 + 10/100)³

Amount = 30,000 × (110/100)³

Amount = 30,000 × (11/10)³

Amount = 30,000 × 11/10 × 11/10 × 11/10

Amount = 30 × 11 × 11 × 11

Amount = 39,930

Now

CI = A - P

CI = 39,930 - 30,000

CI = 9,930

Difference = 9930 - 9000

Difference = 930

Answer 2

Answer:

SI = PRT/100

SI = 30000 x 3 x 10/100

SI = 300 x 3 x 10

SI = 9000

Now

Amount = P x (1 + R/100)"

Amount = 30,000 x (1 + 10/100)³

Amount = 30,000 x (100 + 10/100)³ X

Amount = 30,000 x (110/100)³

Amount = 30,000 × (11/10)³

Amount = 30,000 x 11/10 x 11/10 -

Amount = 30 x 11 x 11 x 11

Amount = 39,930

Now

CI = A - P

CI= 39,930 - 30,000

CL = 9930