Question

Aman borrows from amrit rs 6000 at 6% interest compounded anually
(i) The difference between S.I and C.I at the end of 3rd years
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Answer 1

Question:-

Aman borrows from amrit rs 6000 at 6% interest compounded anually

(i) The difference between S.I and C.I at the end of 3rd years

Solution:-

According to the Question,(ATQ)

• P=Rs 6000
• Rate=6%
• Time=3 years

$\mathfrak \orange{For \: S.I:-}$

$\bold{S.I = \frac{p \times r \times t}{100}} \\ \\ \bold{= \frac{6000 \times 6 \times 3}{1080}}$

$\mathfrak \red{For \: C.I:-}$

• P(1+r/100)^n
• 6000(1+6/100)^3-6000
• 6000(53/50×53/50×53/50-6000)
• 1146.096

$\boxed{ \sf \blue{Difference = 1146.096 - 1080}}$

Hence,The answer is 66.095.