Find the difference (in Rs.) between C.I. and | vedclass

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Question

(A) The formula for the difference between Compound Interest $(C.I.)$ and Simple Interest $(S.I.)$ for $3$ years is given by:Difference $= \frac{P 	i

Vedclass · Accepted Answer

$63.23$

Vedclass · Answer

(A) The formula for the difference between Compound Interest $(C.I.)$ and Simple Interest $(S.I.)$ for $3$ years is given by:Difference $= \frac{P 	imes R^2 	imes (300 + R)}{100^3}$Given:Principal $(P)$ $= Rs. 13000$Rate $(R)$ $= 4 \%$Time $(T)$ $= 3$ yearsSubstituting the values into the formula:Difference $= \frac{13000 	imes 4^2 	imes (300 + 4)}{100^3}$Difference $= \frac{13000 	imes 16 	imes 304}{1000000}$Difference $= \frac{13000 	imes 4864}{1000000}$Difference $= \frac{63232000}{1000000} = Rs. 63.232$Rounding to two decimal places,the difference is $Rs. 63.23$.

Find the difference (in $Rs.$) between $C.I.$ and $S.I.$ on $Rs. 13000$ at $4 \%$ per annum for $3$ years.

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