Question

the difference between the simple interest and the compound interest on Rs.500.00 for 3 years interest 10% p.a. is-​

Answer 1

S. I = PRT/100

= 500×10×3/100

=150 rupees

C. I=A-P

A=P(1+R/100)^n

= 500(1+10/100)³

=500(1+1/10)³

=500(11/10)³

=500×11/10×11/10×11/10

=665.5 rupees

C. I = A-P

= 665.5-500

=165.5 rupees

difference =C. I - S I

=165.5-150

= 15.5 rupees