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What is the amount on Rs 2000 for 3 years at 10% per annum |
Answer» Answer:SI = RS 600CI = Rs 662Difference = Rs 61Step-by-step explanation:Simple Interest = PRINCIPLE * Rate of interest * time /100Simple Interest for 3 Years = 2000 * 10 * 3 /100 = Rs 600Compound Interest = P(1+10/100n)*nt-PCompound Interest = 2000 ( 1 + 10/100)^32000(1+10/100)3 - 2000Compound Interest = 2000 ( 1 + 0.1)^32000(1+0.1)3 - 2000Compound Interest = 2000 ( 1.1)^32000(1.1)3 - 2000Compound Interest = 2000 * 1.331 - 2000Compound Interest = 2000 (1.331 - 1)Compound Interest = 2000 (0.331)Compound Interest = 662Difference between compound & Simple interest= 662 -600= 62 Rs |
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