Question

I borrow Rs. 12000 from Jamshed
12000 from Jamshed at 6% per annum simple interest for 2 years .had I borrowed
this sum at 6% per annum compound interest, what excess amount would I have
to pay to him ?​

Answer 1

Step-by-step explanation:

for first year

p× r×t

12000×1×6÷100

72000÷100

CI=720

A=P + CI

12000+720

=12720

for second year

CI=763.2

A=12720+763.2

=13463.2