The difference between simple and compound interests compounded annually on a certain sum of money for 3 years at 5% per annum is Rs. 40. The sum s:
Question
Solution 1
The difference between compound interest and simple interest for 3 years is given by the formula:
P*(R/100)^2
Where: P is the principal amount (the sum of money that we need to find) R is the rate of interest
Given in the problem: R = 5% per annum The difference between compound interest and simp Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
Similar Questions
The difference between simple and compound interests compounded annually on a certain sum of money for 3 years at 5% per annum is Rs. 40. The sum s:
What is the difference between the compound interests on a sum Rs. 10,000 for 1 year at 10%per annum, when compounded yearly and half-yearly
What is the compound interest on Rs. 8000 at the rate of 10% per annum compounded annually for 2 years?
What is the compound interest on Rs. 8000 at the rate of 10% per annum compounded annually for 2 years? Options Rs. 1600 Rs. 1760 Rs. 1680 Rs. 1840
At what percent per annum will sum of Rs 8000 amount to Rs 9261 in 3 years, if interest is compounded annually?20%4%5%8%