Question 145

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

Solution

Compound Interest Acrrued = 12000*(1.12)^3 -12000 = 16859.14 - 12000 = 4859.136
Siimple Interest acrrued = 12000*3*0.12 = 4320
Difference between Compound Interestand Simple interest = 4859.136 - 4320 = 539.136
Therefore, the correct option is option A.

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

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