If Pawan borrowed an amount of Rs. 14000 from Rahul with simple interest rate of 8% per annum for 2 years. What extra money should be pay if this sum is compounded with same interest rate and time period?
Answers
Answered by
4
Answer:
Compound interest= rs. 2,329.60
*Explanation*
Amount:- P{1+R/100}^n
14000{1+8/100}^2
14000{108/100}^2
14000{27/25}^2
14000× 729/625
rs. 16329.60
Compound interest:- Amount- Principal
16329.60-14000
2329.60
Answered by
5
Answer:
2329.60
Step-by-step explanation:
Compound interest= rs. 2,329.60
*Explanation*
Amount:- P{1+R/100}^n
14000{1+8/100}^2
14000{108/100}^2
14000{27/25}^2
14000× 729/625
rs. 16329.60
Compound interest:- Amount- Principal
16329.60-14000
2329.60
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