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Compound interest on a certain amount for 2 years at 8%p.a. is ₹312 . What will be the simple interest on the same amount,at same rate and same time? |
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Answer» Answer: Let P=100, TIME (n)=3 years, Rate (r)=8% AMOUNT =P(1+ 100 r
) 3
=100(1+ 100 8
) 3
=100×1.08×1.08×1.08 =126 CI =A−P=126−100=26 Now, SIMPLE Interest = 100 PTR
= 100 (100×3×8)
=24 Difference =26−24=2 CI more than SI = 24 (2×100)
=8.33% |
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