Question

Choga borrowed rs 8000 at the rate of simple interest 12 %per annum then find the amount that he pay after 1 year​

Answer 1

Answer:

A and B owe the same amount after n years.

A pays 12% simple interest per year on 8000 rupees. Over n years, A will owe the original sum borrowed plus all the accrued interest:

A= 8000 + (8000 × 0.12 × n)

=8000+(960×n)

and,

B pays 10% simple interest per year on 9100 rupees. Over n years, B will similarly owe:

B= 9100 + (9100 × 0.10 × n)

=9100+(910×n)

so,

When will A and B owe the same?

Set A equal to B and solve for n

A=B

8000+(960×n)=9100+(910×n)

960n=1100+910n

50n=1100

n=22

ANSWER: A and B will equal after 22 years.

Sanity check

Answer 2

Step-by-step explanation:

Given:

P = 8000

R = 12%

T = 1 year

S.I. = (P×R×T)/100

= (8000×12×1)/100

= 96000/100

= 960

Amount = P + S.I.

= 8000 + 960

= 8960