Question
Find the difference in Simple interest and Compound interest on an amount of Rs. 32,000 at $20 \%$ per annum at the end of 3 years.(a) 4096(b) 5490(c) 7650(d) 7685
Step 1
Step 1: Calculate the Simple Interest (SI) using the formula: \[ \text{SI} = \frac{P \times R \times T}{100} \] where \( P = 32000 \) (principal amount), \( R = 20 \) (rate of interest), and \( T = 3 \) (time in years). Show more…
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