Question

The difference between the compound interest and simple interest on a certain sum of money at 6 and 2 by 3% per annum for 3 years is rupees 46 find the sum

Answer 1

Answer:

Step-by-step explanation:

Compound interest (or compounding interest) is interest calculated on the initial principal, which also includes all of the accumulated interest of previous periods of a deposit or loan

Simple interest is a quick and easy method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments