Question

the different between simple and compound interest on Rs. 5000 for 3 years at the annual interest rate of 10%

Answer 1

SI=P*N*R/100
=5000*3*10/100
=1500

TOTAL AMOUNT=5000+1500
=6500

CI=P{1+(R/100)}^N
=5000{1+(10/100)}^3
=5000{11/10}^3
=6655

DIFFERENCE=CI-SI
=6655-6500
=155