Question

Anil borrowed rupees 18000 from Rakesh 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

Answer 1

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.

Answer 2

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.

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