Question

a man borrows rupees 14500 at 11% per annum for 3 years at simple interest and Tarun borrow the same amount at 10% per annum for the same time compounded annually who pay more interest and by how much

Answer 1

the man paid more interest. by rs435

Answer 2

here, formula PTR/100.
a man borrows =₹14500. P
interest is=11% R
time taken=3years. T ( 36 months)

14500*36*11/100=57420.
then, another person same annum Tarun.

14500*10*36/100=52200.

Therefore, first person pay more interest,and 57420.