Bharathi Borrows amount of 12,500 at 12% per annum for 3 years at simple interest and Madhuri borrow the same amount for the same time period at 10% per annum compounded annually who pays more interest and my how much
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bharathi's amount
S.I= PTR/100
=12500×12×3/100=4500, A=12500+4500=17000
madhavi's amount= 12500[1+10/100]^3
=12500[11+10]^3 =125×1331/10 =1663.75
bharathi pays more
difference between the amount=17000-1663.75
=362.5/-
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