SOLUTION: The difference between simple interest and compound interest from RS 10000 at 5% rate in 3 years will be-?

SOLUTION: The difference between simple interest and compound interest from RS 10000 at 5% rate in 3 years will be-?

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Question 852117: The difference between simple interest and compound interest from RS 10000 at 5% rate in 3 years will be-?
Answer by dkppathak(439) (Show Source): You can put this solution on YOUR website!
compound interest =p((1+r)^n -1)
=p((1+.05)^3 -1)
=p(1.157625-1)
=10000x.157625=1576.2500=Rs 1576.25
simple interest=pxtxr=10000x3x.05 = Rs 1500
Diffrerence between CI and SI will be =Rs 1576.25-1500= Rs76.25
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