Question

Aman borrow₹14,500 at 11 percent per annum for three years at simple interest and Tarun borrow the same amount at 10percent per annum for the same time compounded annually. Who payes more interest and by how much
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Answer 1

Step-by-step explanation:

first find the simple interest

S.I = 14500 × 11 × 3/ 100

4785

A = 19285

then find the compound interest

C.I = A = 14500 (1 +10/100) (1+10/100) (1+10/100)

14500 × 11/10 ×11/10 × 11/10

A = 19299.5

difference = 19299.5 - 19285

= 14.5

Tarun want to pay more interest then Aman by 14.5 rupees

Answer 2

Answer:

here is the answer dude