Anisha invests a sum of 8000 at 5% compounded annually for 3 years. Her friend Sheela invests the same amount for same time at same rate but at simple interest. After maturity of the period of investment, who will get more and by what amount?
Answers
Answered by
22
Step-by-step explanation:
use P(1+R/100)ⁿ for both
Anisha
A=8000(1+5/100)³
A=8000(105/100)³
A=8000(21/20)³
A=9261
Sheela
I=PRT/100
I=8000*5*3/100
I=80*15
I=1200
A=P+I
A=9200
Final ans: Anisha will get more by 61
Answered by
20
Answer:
Step-by-step explanation:
use P(1+R/100)ⁿ for both
Anisha
A=8000(1+5/100)³
A=8000(105/100)³
A=8000(21/20)³
A=9261
Sheela
I=PRT/100
I=8000*5*3/100
I=80*15
I=1200
A=P+I
A=9200
Final ans: Anisha will get more by 61
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