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What is the difference (in Rs.) between compound interest (compounded annually) and simple interest for 3 years on a principal of Rs. 3000 at the annual rate of 20%?1). 4642). 3843). 3564). 424 |
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Answer» We know that, Difference between C.I and S.I for 3 years = P(R/100)2 (3 + R/100) We have given that, C.I – S.I = 3000 × (20/100)2 (3 + 20/100) = 3000 × (1/25) × (320/100) = Rs. 384 ∴ Difference for 3 years between C.I and S.I is Rs. 384 |
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