Question

TO FIND THE DIFFERENCE BERTWEEN COMPOUND INTEREST & SIMPLE INTEREST ON THE SAME SUM, AT THE SAME RATE % AND FOR THE SAME TIME (2 examples)​

Answer 1

ANSWER:

STEP BY STEP EXPLANATION

IS GIVEN ABOVE

Answer 2

Step-by-step explanation:

The interest, typically expressed as a percentage, can be either simple or compounded. Simple interest is based on the principal amount of a loan or deposit. In contrast, compound interest is based on the principal amount and the interest that accumulates on it in every period.

Let the sum =P

Let the sum =PSimple Interest for three years =P×

Let the sum =PSimple Interest for three years =P× 100

Let the sum =PSimple Interest for three years =P× 1005

Let the sum =PSimple Interest for three years =P× 1005

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15P

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 100

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005 )

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005 ) 3

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005 ) 3 −P

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005 ) 3 −P=P(1.05)

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005 ) 3 −P=P(1.05) 3

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005 ) 3 −P=P(1.05) 3 −P

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005 ) 3 −P=P(1.05) 3 −P1.15763P−P=0.15763P

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005 ) 3 −P=P(1.05) 3 −P1.15763P−P=0.15763PDifference between compound interest and simple interest

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005 ) 3 −P=P(1.05) 3 −P1.15763P−P=0.15763PDifference between compound interest and simple interestCI−SI=0.51763P−0.15P

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005 ) 3 −P=P(1.05) 3 −P1.15763P−P=0.15763PDifference between compound interest and simple interestCI−SI=0.51763P−0.15P=0.00763P

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005 ) 3 −P=P(1.05) 3 −P1.15763P−P=0.15763PDifference between compound interest and simple interestCI−SI=0.51763P−0.15P=0.00763P0.00763P=76.30

Let the sum =PSimple Interest for three years =P× 1005 ×10=0.15PCI=P(1+ 1005 ) 3 −P=P(1.05) 3 −P1.15763P−P=0.15763PDifference between compound interest and simple interestCI−SI=0.51763P−0.15P=0.00763P0.00763P=76.30P=10,000.