Question

deepan borrowed rs.15000 from satish at 7%p.a on simple interest for 2 years . had her borrowed their sum at 7% compounded interest. what extra interest would he have had to pay​. Kindly someone help me with this answer

Answer 1

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refer to the attachment

Answer 2

Given

• Principal = Rs. 15,000
• Rate = 7%
• Time = 2 years

To Find

• what extra interest would he pay.

Formula Used

$\boxed{ \bf{SI = \dfrac{P × R× T }{100}}}$

$\boxed{\bf CI = P\bigg \{\bigg( 1 +\dfrac{R}{100} \bigg) ^2 - 1\bigg \}}$

Solution

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• On Simple Interest

$\sf{ ~~~~~\implies~~ SI = \dfrac{P × R× T }{100}}$

$\sf{ ~~~~~\implies~~ SI = \dfrac{15000 × 7× 2}{100}}$

$\sf{ ~~~~~\implies~~ SI = 150 × 14}$

$\sf{ ~~~~~\implies~~ SI = 2100}$

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• On Compound Interest

$\sf{ \: \: \: \: \: \implies \: \: CI = P\bigg \{\bigg( 1 +\dfrac{R}{100} \bigg) ^2 - 1\bigg \}}$

$\sf{ \: \: \: \: \: \implies \: \: CI = 15000\bigg \{\bigg( 1 +\dfrac{7}{100} \bigg) ^2 - 1\bigg \}}$

$\sf{ \: \: \: \: \: \implies \: \: CI = 15000\bigg \{\bigg( \dfrac{100 + 7}{100} \bigg) ^2 - 1\bigg \}}$

$\sf{ \: \: \: \: \: \implies \: \: CI = 15000\bigg \{\bigg( \dfrac{10 7}{100} \bigg) ^2 - 1\bigg \}}$

$\sf{ \: \: \: \: \: \implies \: \: CI = 15000\bigg \{ \dfrac{11449}{10000} - 1\bigg \}}$

$\sf{ \: \: \: \: \: \implies \: \: CI = 15000\bigg \{ \dfrac{11449 - 10000}{10000} \bigg \}}$

$\sf{ \: \: \: \: \: \implies \: \: CI = 15 \: \cancel{000} \times \dfrac{1449 }{10 \: \: \cancel{000}} }$

$\sf{ \: \: \: \: \: \implies \: \: CI = \dfrac{21735 }{10 \: \: } }$

$\sf{ \: \: \: \: \: \implies \: \: CI = 2173.5 }$

• Compound Annually interest neet to pay more .

$\: \: \: \: \sf 2173.5 - 2100= \bf Rs.73.5$