If principal, time and rate are given how,do I find the difference between Compound interest and Simple Interest?
p=12,000 n=1 and a 1/2 yrs. r=10% per year
Formulae that I know:
CI - SI for 2 years = P(R/100)^2 CI-SI for 3 years = P(R/100)^2 (R/100 + 3)
But none of these will work for 1 and a half years, so what formula do I use? Or how do I use these formulae in this context?