Anil borrowed 18000 rupees from rakesh at 8%p.a simple interest for 2 years.if anil borrowed this sum at 8%p.a compound interest what extra money would he has to pay?
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7
Answer:
Step-by-step explanation:
Simple Interest=
P*R*T/100
18000*8*2/100=2880
Compound Interest=
P(1+R/100)^T- P
18000(1+8/100)^2- 18000=2995.2
Extra Amount=C.I- S.I
2995.2-2880=115.2
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Answered by
1
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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