Aman borrows rupees 14500 at 11 % per annum for three years at simple interest and Tarun borrows the same amount at 10% per annum for the same time compounded annually .Who pays more interest and by how much?
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For Aman p=14500, r=11 percent n=3 years
C.I= 14500(1+11/100)^3
=19830.6
For Tarun p=14500, r=10 percent n=3 years
C.I=14500(1+10/100)^3
=19299.5
So, according to interest Aman pays more interest by 19830.6-19299.5
=531.1.
C.I= 14500(1+11/100)^3
=19830.6
For Tarun p=14500, r=10 percent n=3 years
C.I=14500(1+10/100)^3
=19299.5
So, according to interest Aman pays more interest by 19830.6-19299.5
=531.1.
swayamtrishna:
one should be simple interest and another compound interest
what
sorry for not reading question carefully.
this question is easy but i did not read this carefully.
ok
thanks
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