Question

7. Raghav borrowed * 10000 from her friend Vismaya 13
at 6% per annum simple interest for 2 years. Had
he borrowed this sum at 6% per annum compound
interest, what excess amount would he have to pay
to her.​

Answer 1

He would have to pay Rs. 36 extra to her.

Step-by-step explanation:

Since we have given that

Principal = Rs. 10000

Rate of interest = 6%

Time = 2 years

So, Interest using "Simple interest", would be

$Interest=\dfrac{P\times R\times T}{100}\\\\Interest=\dfrac{10000\times 6\times 2}{100}\\\\Interest=Rs.\ 1200$

Amount = Principal + Interest

Amount = 10000+1200

Amount = 11200

Using Compound interest, we get that

$A=P(1+\dfrac{r}{100})^n\\\\A=10000(1+\dfrac{6}{100})^2\\\\A=10000(1+0.06)^2\\\\A=10000(1.06)^2\\\\A=11236$

so, Excess amount he would have to pay to her is given by

$11236-11200\\\\=Rs.\ 36$

Hence, He would have to pay Rs. 36 extra to her.

# learn more:

Raghav borrowed Rs. 10000 from her friends vismaya at. 6 % per annum simple interest for 2 years . Had he borrowed this sum at 6 % per annum compound interest what excess amount would he have to pay to her ..

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Answer 2

Answer:

hope this will help you

Step-by-step explanation:

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