Question

I borrowed ₹12000 from jamsed at 4% per annum simple interest for 2 years. Had I borrowed this sum at 4% per annum compound interest, what extra amount would I have to pay FULL SOLLUTION​

Answer 1

Answer:

19.2

Step-by-step explanation:

P = 12000

R = 4

T = 2

S.I = prt/100

S.I = (12000x4x2)/100 = 960

A = S.I + P = 12000 + 960 = 12960

Now for Compound Interest at 4%

A = P( 1 + r/100)^t

A = 12000(1 + 4/100)^2

A = 12000x26/25x26/25 = 12979.2

extra amount to be paid = 12979.2 - 12960 = 19.2