14. Mr. Sharma borrowed 7,000 from a money-lender at 15% per annum simple
interest. He paid 3,550 at the end of first year. How much did he pay at the end of
second year to clear his debt?
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1
The difference between simple interest and compound interest is the interest calculated on the interest accumulated till last year.
Simple Interest for 1 years = 20, 000 * 18/100 * 1 = Rs 3,600
The additional amount gained by compounding interest is
= Rs 3,600 * 18/100 * 1 year = Rs 648
Answered by
3
Answer:
answer is RS. 168 multiply and get the answer
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