Question

The difference between the simple and compound interest on Rs 12500 for 3 years at 4% is
A) Rs. 60.50
B) Rs. 60.80
C) Rs. 60.00
D) Rs.60.30​

Answer 1

Step-by-step explanation:

$\huge\bf\purple{Solution..}$

We know that simple interest is:

I = Prn.

or, I =12500 × 4% × 3

So, I =1500

Then we know that compound interest is:

IC = P(1+ r)^n - P

or, IC = 12500(1+4%)^3 -12500

or, IC =12500(1+0.04)^3-12500

or, IC =12500(1.04)^3-12500

or, IC =12500×1.124864-12500

or, IC =14060.8-12500

So, IC =1560.8

So, Compound interest is:

1560.8.

So,the difference is:(1560.8-1500)

=60.80

So,Answer is:B)60.80 Rs.⭐

Follow me ⭐⭐⭐

Mark brainliest ❤❤❤