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Find the difference in C.I and S.I for if P = ₹ 3000 , r = 4 % p.a, n= 2year |
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Answer» :The difference between Compound Interest and SIMPLE interest is Rs. 4.8Step-by-step explanation ::To Find :-The difference between Compound Interest and Simple interestSolution ::Given that,Principal = Rs. 3000Rate = 4%TIME = 2 yearsTherefore, simple interest is,As we know that,The simple Interest is Rs. 240Now, Compound Interest is,As we know that,Compound interest = Amount - Principal, THEREFORE amount is,Where,P = PrincipalR = Raten = TIMETHE amount is Rs. 3244.8.Therefore, the compound interest is,Compound interest = Amount - Principal= Rs. ( 3244.5 - 3000 )= Rs. 244.8Therefore, the compound interest is Rs. 244.8.According the question,The difference between Compound Interest and Simple interest is,Compound interest - Simple Interest= Rs. ( 244.8 - 200 )= Rs. 4.8 ★ |
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