102. Instead of paying by simple interest on 12,500.compound interest is paid for
a period or 2 years at 8 p.c.p.a. Then how much more amount is paid?
023
(2) < 1080
(3) 200
(4) 7160
Answers
Answered by
2
Given,
Principal (P) = Rs. 12500
Time (t) = 2 years
Rate (r) = 8% p.a
Simple Interest = Prt/100
= (12500*8*2)/100
= Rs. 2000
Amount = P+S.I
= (2000+12500)
= Rs. 14500
Amount with Compound Interest = P(1+r/100)ⁿ
n = 2 years
= 12500(1+8/100)²
= 12500(1+0.08)²
= 12500*1.08*1.08
= Rs. 14580
Difference = Rs. (14580-14500)
= Rs. 80
With Compound Interest, Rs. 80 is more paid.
I hope this helps.
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