Ahmed lent Amir Rs 8000 at simple interest for 3 years at the rate of 5% per annum. How much more would he have gained, had he lent it at compound interest?

Ahmed lent Amir Rs 8000 at simple interest for 3 years at the rate of

1.	Ahmed lent Amir Rs 8000 at simple interest for 3 years at the rate of 5% per annum. How much more would he have gained, had he lent it at compound interest?
Answer» Given p = 8000 rate 5% Time 3 YEARS SI = P × R × T/ 100 8000* 5%* 3 / 100 = 1200 CI = A - p = 8000-1200. =. 7800

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Ahmed lent Amir Rs 8000 at simple interest for 3 years at the rate of 5% per annum. How much more would he have gained, had he lent it at compound interest?

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