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Determine the difference between compound interest and simple interest on Rs. 10000 for 3 years at 5% per annum.

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The amount of Rs. 10000 for 3 years at 5% compound interest per annum
`=Rs. 10000xx(1+5/100)^(3)=Rs. 10000xx(105/100)^(3)`
`=Rs.1000xx(105xx105xx105)/(100xx100xx100)=rs. 11576.25`
`:.` The compound interest `=Rs. (11576.25-10000)=Rs. 1576.25`
Again the simple interest for 3 years of Rs. 10000 at 5% per annum
`=Rs. (10000xx5xx3)/100=Rs. 1500`
Hence the required difference `=Rs. (1576.25-1500)=Rs. 76.25`
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