Question

Riya borrowed ₹10,000 from Sneha at a rate of 10% per annum compounded annually.
She repays the amount to Sneha after 2 years. Find the amount Riya pays to Sneha. If
the same amount is borrowed at the same rate of interest and same time period for
simple interest , how much amount would she have paid less?

Answer 1

Answer:

first 10 % of 10,000 is 1000 then

second year 10% of 11,000 then is 1100

so she had to give total 12100