Ayesha borrowed 5000 from karan at 8% per annum simple interest for 2 years. Had she borrowed the same sum at 8% compound interest compounded annually, what extra amount would she have to pay?
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4
Answer:
32
Step-by-step explanation:
SI= PTR/100
=5000*8*2/100
=800
CI for 1 year is 8% of 5000 =400
for 2nd year is 8% of (5400) =432
CI-SI => 832-800
=32 extra
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