I borrowed 12000 from jamshed at simple interest rate of 6 % for 2 years.Had i borrowed this sum at 6 % per anumn compound interst .what extra amount i have to pay (Please write on paper and send me the picture)
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compound interest:
1200x(100+6/100)^2=1348.32
Simple interest:
6x2/100 x 1200= 144
1200+144=1344
difference:
1348.32-1344=4.32
srry i am new to this website so i didnt know how to put a picture so this is the solution to your problem
thank you!
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