SOLUTION: The difference between simple compound interest on rs 1625 for 3 year at 4% per annum in rupees is?

SOLUTION: The difference between simple compound interest on rs 1625 for 3 year at 4% per annum in rupees is?

Algebra.Com

Question 1016171: The difference between simple compound interest on rs 1625 for 3 year at 4% per annum in rupees is?
Answer by fractalier(6550) (Show Source): You can put this solution on YOUR website!
Compound interest - simple interest =
P(1+r)^t - (P+Prt) =
1625(1.04)^3 - (1625+1625(.04)(3))=
1827.90 - 1820 = 7.90 rupees
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