Question
What will be the differnce between SI & CI on Rs. 70000
for 3 years at rate of 40% per annum ?Solution
Difference between SI & CI for 3 years = PR2 (300 + R)/1003 = 70000 x 402 (300 + 40)/1003 = 70000 x 1600 x 340/1000000 = Rs. 38080
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