I borrowed rs12000from jamshed at 6%per annum si fr 2yers had i borrowed this sum at 6%per anum compound annualy intrest;what extra amount would i have to pay
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step 1 Find simple interest (S.I ) :
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Given , principal (p) =Rs 12000
rate (r) = 6% p.a , time (t) = 2yr
since,we know that S.I = p × r × t /100
S.I = 12,000 × 6 × 2 / 100
S.I = 120 × 6 × 2 = Rs 1440
S.I = Rs 1440
step 2 Find Compound interest :
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p=12,000 , rate = 6 % p.a , time (t) =2yr
Amount (A) = p ( 1 + r / 100 )^t
=12000 ( 1+ 6 / 100 )^2
=12000 × 106 / 100 × 106 / 100
=12000 × 1.06 × 1.06
=Rs 13483.2
compound interest(C.I) = A - P
C.I = 13483.2 - 12000= Rs 1483.2
difference = C.I - S.I
=1483.2 - 1440= Rs 43.2
therefore,
the extra amount you will have to pay
= Rs 43.2
_______________________________
Your Answer : Rs 43.2
_______________________________
_______________________________
Given , principal (p) =Rs 12000
rate (r) = 6% p.a , time (t) = 2yr
since,we know that S.I = p × r × t /100
S.I = 12,000 × 6 × 2 / 100
S.I = 120 × 6 × 2 = Rs 1440
S.I = Rs 1440
step 2 Find Compound interest :
_______________________________
p=12,000 , rate = 6 % p.a , time (t) =2yr
Amount (A) = p ( 1 + r / 100 )^t
=12000 ( 1+ 6 / 100 )^2
=12000 × 106 / 100 × 106 / 100
=12000 × 1.06 × 1.06
=Rs 13483.2
compound interest(C.I) = A - P
C.I = 13483.2 - 12000= Rs 1483.2
difference = C.I - S.I
=1483.2 - 1440= Rs 43.2
therefore,
the extra amount you will have to pay
= Rs 43.2
_______________________________
Your Answer : Rs 43.2
_______________________________
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