2. Tanisha borrowed a sum of Rs 75000 from a
bank for 2 years at 15% p... compound
interest. Find the amount payable by Tanisha
after 2 years by using simple interest formula
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Step-by-step explanation:
Simple interest = p *r *t /100
For the 1st year
Si = 75000 * 15 * 1 /100
Si =750 * 15
Si = 11250
Principal amount for the second year is 11250 + 75000 = 86250
Interest for the second year = p * r * t / 100
Si = 86250 * 15 * 1 / 100
Si = 8625 * 3 / 2
Si = 12937.5
After 2 years Tanisha should pay 11250 + 12937.5 =24187.5
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