Anil borrowed 18000 from rakish at 8% per annum simple interest for 2 years. If anil had borrowed this sum at 8% per annum compound interest, what extra amount would he has to pay.
Answers
Answered by
9
First let's calculate Simple Interest.
SI = PRT
= 18000×8/100×2
= 2880
Now We'll calculate Compound Interest
Amount = P{1+R/100}^n
= 18000{1+0.08}^2
= 20995.2
Compound Interest = Amount - Principal
= 20995.2 - 18000
= 2995.2
Now, How much more int he has to pay If Compound Interest will be Charged
2995.2 - 2880
= 115.2
Hope it helps
#jerri
SI = PRT
= 18000×8/100×2
= 2880
Now We'll calculate Compound Interest
Amount = P{1+R/100}^n
= 18000{1+0.08}^2
= 20995.2
Compound Interest = Amount - Principal
= 20995.2 - 18000
= 2995.2
Now, How much more int he has to pay If Compound Interest will be Charged
2995.2 - 2880
= 115.2
Hope it helps
#jerri
Answered by
0
Answer:P =18000 ,R= 8% ,T = 2YEAR.
P of first year 18000rupees ,R = 8% ,t = 1 year .
Simple interest = p.r.t by 100
= 18000 ×8×1 \ 100 = 1440
amount = P + Simple interest
amount = 18000+ 1440= 19440
again,
principle of second year =19440 ,r =8% ,T= 1year.
simple interest = 19440×8×1 \100 =1555.2
Amount =p+si
Amount = 1555.2 +19440= 20995.2
COMPOUND INTEREST = Amount - original price .
compound interest = 20995.2 -18000 =
2995.2
so , he pay rupees 2995.2extra.
Step-by-step explanation:
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