SOLUTION: On what sum of money wil the difference between thecompound interest and simple interest for. 3 yrs be equal to Rs 930 if the rate of i charged for both 10%pa

Question 885196: On what sum of money wil the difference between thecompound interest and simple interest for. 3 yrs be equal to Rs 930 if the rate of i charged for both 10%pa
Answer by KMST(5328) (Show Source): You can put this solution on YOUR website!
= amount initially deposited.

For years at simple interest,
the interest earned will be .

For years at interest compounded yearly,
the final balance will be .
The interest earned would be .

The difference in interest earned between the two investments would be

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In 3 years, if the different between simple 10% interest and 10% compounded yearly is Rs 930, for an invested sum of money of Rs (thirty thousand).
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