Question

Rishi borrowed 2o,ooofor 3 years at the rate of 8.5 %p.a. simple interest ,while John borrowed the same amount for the same period at 8% p.a. componded annually.Who paid less interest and by how much

Answer 1

Answer:

si=5100₹

ci- 5194.24₹

Rishi paid less by 94.24₹

Step-by-step explanation:

si= 2 0000×3×8.5÷100 =5100₹

CI =

$20000( {1 + 8 \div 100)}^{3} - 20000$

=25194.24-20000=5194.24₹

SI = (20000×3×8.5)÷100 =5100₹

less amount paid = 5194.24-5100=94.24₹Rishi

Answer 2

Answer:

rishi and 94.24 rupees

Step-by-step explanation:

Hope it will help you!!