Find the difference between the compound interest and the simple interest on rs30000 at 7% per annum 3 years

Question

Find the difference between the compound interest and the simple interest on rs30000 at 7% per annum 3 years

in progress 0
Adalyn 8 months 2021-10-03T08:15:54+00:00 1 Answer 0 views 0

Answers ( )

    0
    2021-10-03T08:17:49+00:00

    Answer:

    Compound Interest

    Amount = P(1+r/100)^t

                 = 30000(1+7/100)^3

                 = 36,751.29

    Then,

    Compound interest= Amount-Principal

                                    = 6751.29

    Simple Interest

    Simple interest = prt/100

                 = 30000*7*3/100

                 = 6300

    Then,

    Difference between the compound interest and the simple interest

    = 6751.29
    -6300

    = 451.29

Leave an answer

Browse
Browse

18:9+8+9*3-7:3-1*13 = ? ( )