1.

What will be the difference in Simple interest and compound interest on 10,000 after 3 years at the rate of 10 percent per annum? 1. 3102. 3003. 3264. 3505. 400

Answer» Correct Answer - Option 1 : 310

Given:

P = 10,000

T = 3 years

R = 10%

Formula Used:-

Difference = (Sum × (Rate)2) × (300 + rate)/1003

Calculation:

Here, P = 10,000, R = 10%, T = 3 years

⇒ Difference = (10,000 × 100 × 310)/1000000

⇒ Difference = 310


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