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Find the Difference Between the Compound Interest and the Simple Interest in 3 Years on Rs 15,000 at 8% P.A. Compounded Yearly.

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प्रश्न

Find the difference between the compound interest and the simple interest in 3 years on Rs 15,000 at 8% p.a. compounded yearly.

योग
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उत्तर

Here, P=Rs 15,000 ; r=8 % ; t=3 years 

For simple interest : 

S.I. = `("P" xx "r" xx "t")/100`

S.I. = Rs `(15000 xx 8 xx 3)/100`

S.I. = Rs 3600

For compound interest: 

`"A" = "P" (1 + "r"/100)^"n"`

A = Rs 15000 `(1 + 8/100) ^3`

A = Rs `15000 xx 108/100 xx 108/100 xx 108/100`

A = Rs 18895.68

C.l. = A  -  P

C.l. = Rs (18,895.68 - 15,000)

C.l. = Rs3, 895.68 

The difference in the compound interest and the simple interest =Rs (3,895.683.600) = Rs 295.68 

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Finding CI from the Relation CI = A – P
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