Question

Aman borrows from Amrit 6000 ruppees at 6%interest compounded annually. Find : 1) The difference between simple interest and compound interest at the end of 3rd year. 2) Amount Aman pays to Amrit after 3 years.

Answer 1

Answer:

18000

Step-by-step explanation:

increase the interest three times

Answer 2

Answer:

(a) ₹66.09

(a) ₹66.09(b) ₹7,146.09

Step-by-step explanation:

First find simple interest and compound interest.

(a) The difference between Simple interest and compound interest = 1146.09 - 1080 = ₹ 66.09

(b) Amount Aman pays to amrit after 3 years is ₹ 7,146.09