Fabina borrows Rs 12,500 at 12% per annum for 3 years at simple interest and
Radha borrows the same amount for the same time period at 10% per annum,
compounded annually. Who pays more interest and by how much ?
Answers
Answered by
1
Answer:
Answer
In case of Fabina:
P=Rs.12500
R=12% per annum and T=3 years, then
SI=
100
P×R×T
=Rs.(
100
12500×12×3
)=Rs.4500
In case of Radha:
Amount=P(1+
100
R
)
T
Amount=Rs.[12500×(1+
100
10
)
3
]
=Rs.(12500×
100
110
×
100
110
×
100
110
)=Rs.16637.50
∴ Compound Interest =Rs.(16637.50−12500)=Rs.4137.50
Hence, Fabina pays Rs.(4500−4137.50),i.e.,Rs.362.50 more as interest.
Answered by
1
Answer:
I am too in Standard 9th..! Yaaayyyyy!!
Step-by-step explanation:
Bye..
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