Question

Ramchand took a loan of 12,000 from his neighbour 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

$\large\bf\underline \blue{Given:-}$

• Principal = 12000
• Rate = 8% , 12%
• Time = 2 year's

$\large\bf\underline \blue{To \: find:-}$

• Extra money paid by the borrower.

$\huge\bf\underline \purple{Solution:-}$

• Intrest at the rate of 8% for 2 years.

• Simple Interest = P×R×T/100

⠀⠀⠀⠀⠀➝ (12000×8×2)/100

⠀⠀⠀⠀⠀➝ (12000×16)/100

⠀⠀⠀⠀⠀➝ Rs 1920

At the end of 2nd year the neighbour said that he wants intrest at the rate of 12%.

• Intrest at the rate of 12%

⠀⠀⠀⠀⠀➝ (12000×12×2)/100

⠀⠀⠀⠀⠀➝ (12000×24)/100

⠀⠀⠀⠀⠀➝ Rs 2880

Now,

The extra amount paid by the borrower:-

⠀⠀⠀⠀⠀➝ 2880 - 1920

⠀⠀⠀⠀⠀➝ Rs 960

Answer 2

Gɪᴠᴇɴ :-

• Ramchand took a loan from his neighbour of = Rs.12000
• Rate was Decided = 8% per annum , simple interest.
• At the end of 2 years, his neighbour demanded an interest at the rate of 12%.

Tᴏ Fɪɴᴅ :-

• what is the extra amount paid by the Borrower ?

Fᴏʀᴍᴜʟᴀ ᴜsᴇᴅ :-

• when Rate is Simple Interest , Interest Received is :- (Principal * Rate * Time) / 100

Sᴏʟᴜᴛɪᴏɴ :-

Case 1 :- when Rate was 8% Per Annum.

→ P = Rs.12000

→ T = 2 Years.

→ R = 8%

→ SI To be Paid By Ramchand to His Neighbour = (12000*2*8)/100 = Rs.1920

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Case 2 :- Now, it Has been said That, At the end of 2 Years , The Neighbour Refuse to take interest on the rate of 8% and demands that, he will take interest at the rate of 12% per Annum.

So,

→ P = Rs.12000

→ T = 2 Years.

→ R = 12%

→ SI To be Paid By Ramchand to His Neighbour Now = (12000*2*12)/100 = Rs.2880.

____________________

Therefore,

→ Extra Amount Paid By The Borrower = 2880 - 1920 = Rs.960 (Ans.)

Hence, Now, Ramchand Paid Rs.960 More to The Neighbour.

(This is Correct Answer).

__________________________

Lets See Tricky Method Now :-

As it is given That, Rate was increased From 8% to 12% .

So, we can conclude That, Now, Ramchand has to pay 4% more interest on Same Amount .

Therefore,

→ Extra Amount Paid By The Borrower = (12000 * 4 * 2) / 100 = Rs.960 (Ans.)

Hence, Now, Ramchand Paid Rs.960 More to The Neighbour.

___________________________