Question

What is the amount on Rs 2000 for 3 years at 10% per annum​

Answer 1

Answer:

SI = Rs 600

CI = Rs 662

Difference = Rs 61

Step-by-step explanation:

Simple Interest = Principle * Rate of interest * time /100

Simple Interest for 3 Years = 2000 * 10 * 3 /100 = Rs 600

Compound Interest = P(1+10/100n)*nt-P

Compound Interest = 2000 ( 1 + 10/100)^32000(1+10/100)

3

- 2000

Compound Interest = 2000 ( 1 + 0.1)^32000(1+0.1)

3

- 2000

Compound Interest = 2000 ( 1.1)^32000(1.1)

3

- 2000

Compound Interest = 2000 * 1.331 - 2000

Compound Interest = 2000 (1.331 - 1)

Compound Interest = 2000 (0.331)

Compound Interest = 662

Difference between compound & Simple interest

= 662 -600

= 62 Rs