The difference between the compound interest | vedclass

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Question

(a) We have,

$CI - SI =P\left[\left(\frac{R}{100}\right)^{3}+3\left(\frac{R}{100}\right)^{2}\right]$

$=8000\left[\left(\frac{5}{100}\right)^{3}+

Vedclass · Accepted Answer

$61$

Vedclass · Answer

(a) We have,

$CI - SI =P\left[\left(\frac{R}{100}ight)^{3}+3\left(\frac{R}{100}ight)^{2}ight]$

$=8000\left[\left(\frac{5}{100}ight)^{3}+3\left(\frac{5}{100}ight)^{2}ight]$

[Here, $P=8000$ and $R=5]$

$=8000\left[\frac{125+7500}{100 	imes 100 	imes 100}ight]=₹ 61$

The difference between the compound interest and the simple interest on ₹ $8000$ for $3$ years at $5 \%$ per annum is (In ₹)

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