Question

. Ramchand took a loan of 12,000 from his neigh-
bour and agreed to repay it after 2 years at the rate of
8% per annum, simple interest. At the end of 2 years,
his neighbour demanded an interest at the rate of
12%, what is the extra amount paid by the borrower?​

Answer 1

Answer:

principal amt *4%=answer

Answer 2

$\underline\mathfrak{Given:-}$

• $\: \: \: \: \: \: \: Principal \: \: \leadsto \: \: {12000}$
• $\: \: \: \: \: \: \: Rate \: \: \leadsto \: \: {8} \: \% \: \: \: {12} \: \%$
• $\: \: \: \: \: \: \: Time \: \: \leadsto \: \: {2} \: year's$

$\underline\mathfrak{To \: \: Find:-}$

• $\: \: \: \: \: Extra \: \: money \: \: paid \: \: by \: \: the \: \: borrower.$

$\underline\mathfrak{Solutions:-}$

• $\: \: \: \: \: \: \: Interest \: \: at \: \: the \: \: rate \: \: of \: \: {8} \: \% \: \: for \: \: {2} \: \: year's.$

$\: \: \: \: \: \fbox{Simple \: \: Interest \: \: \leadsto \: \: \frac{P \: \times \: R \: \times \: T}{100}}$

$\: \: \: \: \: \leadsto \: \: \frac{{12000} \: \times \: {8} \: \times \: {2}}{100}$

$\: \: \: \: \: \leadsto \: \: \frac{{12000} \: \times \: {16}}{100}$

$\: \: \: \: \: \leadsto \: \: {120} \: \times \: {16}$

$\: \: \: \: \: \leadsto \: \: Rs \: {1920}$

• $\: \: \: \: \: At \: \: the \: \: end \: \: of \: \: {2nd} \: \: year's \: \: the \: \: neighborhood \: \: said \: \: that \\ \: \: \: \: \: he \: \: want \: \: interest \: \: at \: \: the \: \: rate \: \: {12} \: \%$

$\: \: \: \: \: \leadsto \: \: \frac{{12000} \: \times \: {12} \: \times \: {2}}{100}$

$\: \: \: \: \: \leadsto \: \: \frac{{12000} \: \times \: {24}}{100}$

$\: \: \: \: \: \leadsto \: \: {120} \: \times \: {24}$

$\: \: \: \: \: \leadsto \: \: Rs \: {2880}$

• $\: \: \: \: \: Now, \: \: the \: \: extra \: \: amount \: \: paid \: \: by \: \: the \: \: borrowed:-$

$\: \: \: \: \: \leadsto {2880} \: - \: {1920}$

$\: \: \: \: \: \leadsto \: Rs \: {960}$

• $\: \: \: \: \: Hence, \: \: Extra \: \: money \: \: paid \: \: by \: \: the \: \: borrower \: \: is \: \: Rs \: {960}.$

__________________________________