Question

3. * 8000
10% half-yearly
4. Reena and Ruchira borrowed 60,000 and 50,000 respectively for a period of 3 years. Reena paid simple
interest at the rate of 10% p.a., while Ruchira paid compound interest at the rate of 10% p.a. compounded
annually. Who paid more interest and by how much ?​

Answer 1

Answer:

Reena paid 6000*3

=18000

which is 18000-16550

=1450 more than int paid by Ruchi'

because Ruchi' paid:

Step-by-step explanation:

Amount=Prin*(1+rate/100)^years.

=50000*(1+0.1)^3

=50000*1.1*1.1*1.1

=50000*1.331

=66550

so she paid

66550-50000

=16550 towards int.