anil borrowed ₹18000 from rakesh at 8 percent per annum simple interest for 2 years . if anil had borrowed this sum at 8percent per annum compound interest , what extra amount would he has to pay ??
Answers
Answered by
47
GIVEN-
Principal=Rs18000
Rate of interest =8 p.c.p.a
No. of years=2
TO FIND-
compound interest - simple interest
SOLUTION -
S.I.=PNR/100
=18000×8×2/100
=180×16
=2880
Amount = 18000×109/100×109/100
=18×109/10×109
=19765.8
compound interest = amounts -principal
=19765.8-16000
=3765.8
compound interest -simple interest
=3765.8-2880
=885.8
Principal=Rs18000
Rate of interest =8 p.c.p.a
No. of years=2
TO FIND-
compound interest - simple interest
SOLUTION -
S.I.=PNR/100
=18000×8×2/100
=180×16
=2880
Amount = 18000×109/100×109/100
=18×109/10×109
=19765.8
compound interest = amounts -principal
=19765.8-16000
=3765.8
compound interest -simple interest
=3765.8-2880
=885.8
Similar questions
Math,
8 months ago
Social Sciences,
8 months ago
Science,
1 year ago
Chemistry,
1 year ago
Math,
1 year ago