Question

a man borrowend 9000rs from a bank at 8% per annum.find the amount he has to payafter two years.​

Answer 1

Step-by-step explanation:

if compound interest

$amount = p \times {(1 + \frac{r}{100} )}^{t}$

$p = 9000 \: t = 2yrs \: r = 8\%pa$

$amount = 9000 \times \frac{108}{100} \times \frac{108}{100}$

=Rs.10,497.6

if simple interest

$amount = p + \frac{p \times t \times r}{100} = 9000 + 144$

$= rs.9144$