I borrowed ₹15000 from Virat at 5% per annum simple interest for 2 years.
Had I borrowed this sum at 5% per annum compound interest for same time
period then what extra amount would I have to pay?
Answers
Answered by
3
Step-by-step explanation:
p = 15000
R = 5%
T = 2 years
S.I = P × R × T / 100
15000 × 5 × 2 / 100
= 1500
amount you will pay = 15000+ 1500
16500
Answered by
2
Step-by-step explanation:
we have to found the Compound interest
I am using the short trick
5+5+5×5/100
10+25/100
10+0.25
= 10.25 % of 15000
= 1537.5 Rs is ur answer
U have to pay 1537.5 rs extra
Similar questions