Question

Arvind borrows a sum of 2,50,000 at 6% p.a. simple interest for 3 years. On the same day, Asif borrows the same sum on the same rate of interest but compounded annually for 3 years. On this basis answer the following questions.

Find the interest paid by Arvind.
Find the interest paid by Asif.​

Answer 1

Answer:

Step-by-step explanation:

卂иรωεƦ:-✌✌

Let A c

→ Amount after compound interest

A s

→ Amount after simple interest

Now, P=20000,R=12%,t=2

−A s +A c =−P(1+ 100 Rt )+P(1+ 100 R ) t

=−20000(1+ 100 12×2 )+20000(1+ 100 12 ) 2

=−24800−25088

=Rs.288

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