# 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

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%?

• 539.136

• 602.242

• 495.248

• 488.322

#### 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
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