Question

Raman borrows * 12,000 for three years at 10.5% per annum simple interest,
while Aftab borrows the same amount for the same period at 10% compounded
annually. Who pays more and by how much?​

Answer 1

Answer:

Aftab paid Rs.192 more than Raman

Step-by-step explanation:

Used formulae:-

Simple Interest =PTR/100

Compound Amount=P(1+R/100)^n

Compound Interest=A-P