What is the Difference Between the Compound Interest and Simple Interest Accrued on an Amount of ₹12000 at the End of 3 Years at the Rate of 12%? - Mathematics

Advertisement Remove all ads
MCQ

What is the difference between the compound interest and simple interest accrued on an amount of  ₹12000 at the end of 3 years at the rate of 12%?

Options

  • 539.136

  • 602.242

  • 495.248

  • 488.322

Advertisement Remove all ads

Solution

539.136
Explanation : 
We have, P = 12000, r = 12% and t = 3 yr

Required difference = `(Pr^2(300+r))/(100)^3`

= `(12000xx12xx12xx312)/(100xx100xx100)=₹539.136`

Concept: Simple and Compound Interest
  Is there an error in this question or solution?
Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×