Question

. I borrowed ₹ 12,000 from Jamshed at 6% per annum simple interest for 2 years. Had I borrowed this sum at 6% per annum compound interest, what extra amount would I have to pay?

the extra amount to be paid = ₹ 43.20

the extra amount to be paid = ₹ 42.20

the extra amount to be paid = ₹ 40.20

the extra amount to be paid = ₹ 34.20

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Answer 1

Answer:

The extra amount to be paid = ₹ 43.20

Step-by-step explanation:

Compound interest for 1st year =

12,000 × 6 × 1 = 720

100

12,000 + 720 = ₹ 12,720

12,720 × 6 × 1 = 763.20

100

Total extra amount to be paid = 763.20 - 720 = ₹ 43.30

Hope it helps u !!!!

Answer 2

rs. 43.20.

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.....mn