Question

20. Varun borrowed 1000000 from a bank for two years. If the bank charges interest of 10% per annum,
compounded yearly, then give the answers of the following below questions.
( The amount paid by Varun after two years is
(1) 1100000
(2) 1000000
(3) 1210000
(4) 1110000
(ii) The interest paid by Varun in two years is
(1) 210000
(2) 110000
(3) 200000
(4) 410000
(ii) If he borrowed the amount at the same rate for same period at simple interest, then interest paid by him (1)
(1) 100000
(2) 150000
(3) 200000
(4) ₹250000
(iv) The difference between compound interest and simple interest for same condition is
(1) 10000
(2) 12000
(3) 315000
(4) 20000
​

Answer 1

Answer:

1200000. Interest paid by Varun is 200000

Step-by-step explanation: