Accountancy, asked by mdhara226, 6 months ago

5. Muskan borrows a sum of 320,000 for 3 years at the simple interest rate of 10%. Mohan borrows the same amount at a variable rate of interest, that is, 5% for the first year, 10% for the second year and 15% for the third year. Who pays more interest and by how much?​

Answers

Answered by freedarajesh2003
0

Answer:

Explanation:

P= Rs. 24000, Time = 1  

2

1

​  

 years =3 half years, r=10% p.a. =5% per half year

∴A=24000(1+  

100

5

​  

)  

3

=24000×(  

20

21

​  

)  

3

 

=24000×  

8000

9261

​  

= Rs. 27783

∴ C.I. = Rs. 27783− Rs. 24000= Rs. 3783

∴ C.I. (x) lies between Rs. 3000 and Rs. 4000.

Answered by padmanabhajuad
0

Answer:

Refer to the attachments

Attachments:
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