Question

What is the difference between simple interest and compound interest on investment of rupees 3000 @ 9% per annum for 4 years? ​

Answer 1

Answer:

64.1

Step-by-step explanation:

Sinple interest= P.R.T/100 = 1000×10×4/100 = 400.

Compound interest= P{1+ R/100}™ - P =1000{1+10/1000}^4-1000 = 1464.1 - 1000 = 464.1

Thus difference in interests= 464.1 - 400 = ₹64.1.

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