Question

Ashish borrowed ₹ 18000 from Priyanka at 8% p.a simple interest for 2 years .If Ashish had

borrowed this sum at 8% p.a compound interest ,what extra amount would he has to pay.​

Answer 1

Explanation:

Real Amount :- 18000

Real Amount :- 18000Interest :- 8%

Real Amount :- 18000Interest :- 8%number of years = 2

Real Amount :- 18000Interest :- 8%number of years = 2Interest = 18000 ➗ 100x 8= 1440

Real Amount :- 18000Interest :- 8%number of years = 2Interest = 18000 ➗ 100x 8= 1440interest value of one year = 1440

Real Amount :- 18000Interest :- 8%number of years = 2Interest = 18000 ➗ 100x 8= 1440interest value of one year = 1440so =1440x2 = 2880

Real Amount :- 18000Interest :- 8%number of years = 2Interest = 18000 ➗ 100x 8= 1440interest value of one year = 1440so =1440x2 = 2880So 2880 is the extra amount to pay